2014.06.2014:40:00UTC+00Gbp Break Multi-Year Highs Yesterday at Expectation That Boe Will Raise Interest Rates
Confidence amongst investors that UK interest rates will rise sooner than the Bank of England currently predicts saw the pound breach new multi-year highs against the US dollar yesterday.
The move came despite poor UK retail sales data although a separate report on Thursday covering UK industrial activity did touch a six-month high, suggesting Britain's economic recovery is becoming more balanced.
Sterling yesterday breached its highest level against the US dollar since October 2008 but is struggling to make a sustained break through significant resistance levels ahead of next week's BOE announcement.
Governor Carney will speak about housing sector risks on Thursday.
Any action that would negatively impact UK interest rate expectations could limit further sterling gains.
Stay 
