Sterling Rallies as U.s.-iran Conflict Boosts BOE Rate-rise Bets
Dow Jones
Jul 09
0759 GMT - Sterling rises to a one-year high against the euro and a three-week high versus the dollar as renewed U.S.-Iran tensions boosts expectations that the Bank of England could raise interest rates in response to elevated oil prices. The oil price shock is reinforcing the BOE tightening story, Monex Europe analysts say in a note. "The U.K. inflation problem remains more persistent than in the U.S. or the euro area," they say. The gains also follow a recent easing in U.K. political concerns and the International Monetary Fund upgrading its U.K. growth outlook. Sterling rises to as high as $1.3430 and the euro falls to a low of 0.8516 pounds, LSEG data show. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
July 09, 2026 03:59 ET (07:59 GMT)
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