(Bloomberg) -- The pound may advance on speculation
the Bank of England will increase interest rates at its monthly
meeting this week.
The currency traded near the highest in almost 15 years
versus the yen yesterday as a gain in Asian stocks encouraged
investors to use the so-called carry trade, taking advantage of
low interest rates in Japan to fund purchases of higher-yielding
assets, such as the pound. BOE policy makers are due to announce
their monthly decision on U.K. borrowing costs on June 7.
Read more at Bloomberg Currencies News
the Bank of England will increase interest rates at its monthly
meeting this week.
The currency traded near the highest in almost 15 years
versus the yen yesterday as a gain in Asian stocks encouraged
investors to use the so-called carry trade, taking advantage of
low interest rates in Japan to fund purchases of higher-yielding
assets, such as the pound. BOE policy makers are due to announce
their monthly decision on U.K. borrowing costs on June 7.
Read more at Bloomberg Currencies News
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