The British pound escalated on Thursday as traders expect the Bank of England to raise interest rates early next year.
BOE Governor Mark Carney reiterated a first rate hike since the 2008 financial crash was getting closer and downplayed the effect of a stronger sterling on inflation.
The pound traded at 69.64 pence per euro. Against the US dollar, the currency stood at $1.5599.
Carney has not been vocal on interest rates, “so that was always going to give sterling a boost,” said Angus Campbell, Senior Analyst at FxPro.
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