Excerpt from: Futures and Commodity News
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| April 04, 2007 | | Sterling up as interest rate hike is expected | Currency analysts are expecting an interest rate high from the Bank of England as early as tomorrow. The U.K. pound is up on the spot forex market on the news, and spread bets, CFDs and spot forex trades favouring the sterling could prove profitable. Bloomberg reports on the U.K. pound and the spot forex market:
``We're expecting a rate hike this week,'' said Mitul
Kotecha, head of currency strategist at Calyon in London.
``Economic data are pretty firm, consumer confidence is rising
and there's nothing to suggest the Bank of England isn't going to
raise rates. Why not do it now.'' | | |
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