LONDON, Nov 25 — Sterling steadied today close to a 2021 low against the dollar, supported by expectations of a rate hike in the United States, while investors awaited for a Bank of England Governor’s speech later in the day.
Markets broadly expect the central bank to raise interest rates next month. But everything could happen, analysts said. “We continue to expect the bank to tighten next month, by 15 basis points. It will be interesting to determine how Governor Bailey deals with close questioning in the wake of marching the market up the rate hill this month only to disappoint those expecting a hike,” said Jeremy Stretch, head of G10 FX strategy at CIBC.
The pound flattened versus the dollar to US$1.3331 at 0940 GMT, after hitting its lowest level versus the greenback since December 2020 in the previous day.
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