FX Week

November rate hike in UK expected

"More economists are pencilling in a November tightening," said Hans Redeker, global head of FX strategy at BNP Paribas in London. "With markets sensing a turn in the global interest rate cycle, higher-yielding currencies such as sterling stand to benefit."

Marvin Barth, global currency economist at Citigroup in London, said: "Sterling’s economic growth and rate advantage makes it one of our preferred currencies as the world makes the transition from slower growth to a sustained growth

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