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Sterling Slips vs Dollar, Euro as Vlieghe Fuels Rate Hopes


Monday, 13 January 2020 15:39 WIB

EuroDolar ASSterling,GBP/USD


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The dollar opened the week stronger against the pound sterling and the Japanese yen, but weaker against the euro, with markets still unsettled by the weak labor market report on Friday.

The dollar index, which measures the greenback against a basket of currencies, was effectively unchanged at 3:10 AM ET (0810 GMT) at 97.130. However, that masked a 0.5% rise for the dollar against sterling, which continued to suffer from speculation on an interest rate cut from the Bank of England. The euro was up marginally at $1.1128.

Speeches by Governor Mark Carney and Monetary Policy Committee member Silvana Tenreyro last week had encouraged hopes of a cut. Over the weekend, another MPC member Gertjan Vlieghe, had signalled in an interview with the Financial Times that he would also back a rate cut barring “an imminent and significant improvement in the U.K. data.”

Source : Investing.com


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