Sterling edged up 0.1% to $1.1170, after sliding 2% overnight. It was headed for a weekly loss of nearly 4%, the largest since September’s market turmoil triggered by an economic plan that alarmed investors.
“It’s been sort of coming for some time that the Bank of England is a reluctant hiker … in the current environment. But certainly, those inflation numbers are still way too high.” Fed rate futures now point to a terminal rate of about 5.15% by June, with US Treasury yields moving in step with the higher expectations.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: