Sterling Gains Against Dollar and Euro – January 22, 2020

Speculations of whether or not the Bank of England would be cutting interest rates helped the pound gain against the dollar and euro. Investors original estimate of a 70% chance of a cut drop to only 50%. The pound had already picked up some momentum when data released this week showed job creation in the British economy was its strongest this passed fall. Against the euro, sterling was its strongest in over a month at 84.23 pence. The currency rose to a two week high against the dollar to $1.3153.