(Bloomberg) -- The pound headed for its longest
winning run versus the dollar in more than a year on speculation
the Bank of England will keep raising interest rates while the
Federal Reserve stays on hold.
The U.K. currency climbed to a 26-year high this week as the
Federal Reserve trimmed its forecast for economic growth and Bear
Stearns Cos. reported losses on hedge funds that bet on bonds
backed by subprime loans. A report today may show the U.K.
economy maintained its pace of expansion in the second quarter,
according to a survey of economists.
Read more at Bloomberg Currencies News
winning run versus the dollar in more than a year on speculation
the Bank of England will keep raising interest rates while the
Federal Reserve stays on hold.
The U.K. currency climbed to a 26-year high this week as the
Federal Reserve trimmed its forecast for economic growth and Bear
Stearns Cos. reported losses on hedge funds that bet on bonds
backed by subprime loans. A report today may show the U.K.
economy maintained its pace of expansion in the second quarter,
according to a survey of economists.
Read more at Bloomberg Currencies News
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