BoE Rate Hike Uncertainty Causes Pound To Dip – 19 April, 2018

Disappointing retail sales and widened expectations for a May interest rate hike cause the pound to drop to a two week lows against the dollar. The pound fell to $1.4069 GBP and last stood at $1.4079. It hit a three week low against the euro at 0.87725 pound per euro and remained at 0.8765. The euro dropped 0.24 percent to trade at $1.2344. U.S. Treasury bond yields support the dollar after hitting a one month high of 2.934 percent, allowing the dollar to remain firm at 107.42 yen and narrowly missing its seven week high of 107.78 yen.