Forex Market Review (European Session) – Sterling gains on growing rate hike expectations; stronger dollar following Fed
Posted on June 15, 2017 at 2:45 pm GMTThe Bank of England coming closer to an interest rate increase shocked currency market participants today, who reacted by placing long sterling positions and thus boosting the currency. The dollar stood stronger today following a more hawkish than expected Fed. The Bank of England left rates unchanged at the record-low 0.25% upon completion of today’s meeting. However, three of the eight Monetary Policy Committee (MPC) members on the Bank’s board decided to support a rate hike, taking markets by surprise [..]