Interest Rate Uncertainty Causes Sterling To Drop – 8 May, 2018

Weak UK house pricing and a Bank of England interest rate hold caused sterling to fall to a four month low while the dollar extended its rally. The pound dropped to $1.3485 as the 80 percent expectation for a hike last month is down to roughly 10 percent. Tensions about Brexit also resurfaced, causing the dip to deepen. Sterling gained 0.2 percent to 87.810 pence.