Yield chasers boost British pound

The Bank of England monetary policy committee’s decision to leave UK interest rates on hold at 3.75% last Thursday (June 6) has shifted sterling into pole position as a high-yielding currency.

Analysts said the rise in sterling reflects a migration away from previously high-yielding currencies.

"Some high-yield bet plays such as the South African rand, the Norwegian krona and more recently the Kiwi, have been unwinding, all because of aggressive easing expectations from the central banks of th