Reported 1 day ago
The pound has hit its strongest level against the euro since April 2022, buoyed by the perception that the Bank of England will reduce interest rates less aggressively than the European Central Bank. As sterling rose 0.3% to 82.50 pence per euro, UK government bonds weakened, with yields on 10-year notes reaching a peak of 4.33%. Analysts predict further widening of the interest-rate differential between the UK and euro area as the ECB prepares to lower borrowing costs amid political instability affecting growth in major eurozone economies.
Source: YAHOO