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LONDON Sterling rose against the dollar on Thursday after a Bank of England policymaker said the central bank was likely to raise rates well into next year, while noting an increase could come earlier if the economy rebounds more quickly than expected.
Gertjan Vlieghe’s comments helped lift sterling well into positive territory, up 0.4% on the day to $1.4184 by 1124 GMT. By afternoon trade, the pound was still up 0.36%, at $1.4174.
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“My central scenario is that the economy evolves similarly to the MPC’s central projection in May, but with somewhat more slack than in the central projection,” Vlieghe said in a lecture at the University of Bath.
Britain’s pound traded within recent ranges against the dollar and the euro on Wednesday, as a lack of fresh economic catalysts in a sparse data calendar kept the currency in consolidation mode. Sterling is the second best-performing G10 currency versus the dollar this year, up 3.4% year-to-date and trailing only the commodity-linked Canadian dollar. That .
Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9Hv (Rewrites throughout, updates prices, adds further graphics)
LONDON, April 23 (Reuters) - Sterling rebounded on Friday from a sharp fall on Thursday, on track for a second week of gains against the dollar after strong retail sales data and business surveys showed Britain’s economy might already be recovering from its worst annual contraction in 300 years.
British retail sales rocketed last month as consumers prepared for a partial lifting of coronavirus lockdown restrictions, according to official data that also showed record peacetime government borrowing.
Sales volumes leapt by 5.4% in March from February, the Office for National Statistics said. Economists polled by Reuters had expected an increase of 1.5%.
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