Sterling Falls Versus Dollar Ahead of Fed, BOE Rate Decisions
Dow Jones
2 hours ago
0846 GMT - Sterling falls to an 11-day low against the dollar as markets await interest-rate decisions by the U.S. Federal Reserve and the Bank of England on Wednesday and Thursday, respectively. Markets price in an 87% chance that the Fed could raise interest rates this week, LSEG data show, causing the dollar to strengthen versus other major currencies. The BOE meanwhile is expected to leave rates on hold. Investors price in a 67% probability of rates staying unchanged. There are few catalysts that would drive a rally in sterling currently, RBC BlueBay Asset Management's Mark Dowding says in a note. Sterling falls 0.3% to a low of $1.3476, LSEG data show.
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