GBP breaking key level

13.04.2018 / 09:54

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The pound reached the strongest level versus the euro since May 2017 after the European Central Bank revealed a dovish slant in the account of its March meeting published Thursday.

As the market bets on a Bank of England interest-rate hike next month, the pound is benefiting from the differing policy expectations.

The currency’s move to break out of its recent range puts it into “fairly uncharted territory” and it could see further gains ahead of the BOE’s May 10 meeting, said Morten Helt, a senior analyst at Danske Bank A/S.

Source: Bloomberg Pro Terminal

Trader Georgi Bozhidarov

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GBP breaking key level

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