Sterling hovers near 2-wk highs on BoE's optimistic message

  • 2/5/2023
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LONDON, Dhu-AlQa'dah 27, 1436, Sep 11, 2015, SPA -- Sterling was steady near a two-week high against the dollar on Friday, on track for its first weekly gain in three, bolstered by the Bank of England's optimistic message that the turmoil in global markets would not have much impact on the British economy, Reuters reported. The message, highlighted in the minutes of the BoE's latest policy meeting released on Thursday, would keep the central bank on course to follow the Federal Reserve and raise interest rates sometime in early 2016, traders said. Some attention was also being paid to the election of a new leader of the British opposition, results of which are due on Saturday.. Traders will also eye a speech by Kristin Forbes, a BoE policymaker, who recently cautioned against the adverse effects of keeping borrowing costs low for too long. Sterling was trading flat at $1.5445, not far from Thursday's high of $1.5476. The euro was slightly higher, trading at 73.08 pence. --SPA 11:45 LOCAL TIME 08:45 GMT www.spa.gov.sa/w

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