BLBG:British Pound Falls Versus Most Major Peers Before Bank of England Minutes
The pound declined against most of its major peers tracked by Bloomberg before the release of the minutes of the Bank of England’s July policy meeting at which policy makers decided to keep interest rates at a record low.
Sterling was little changed versus the euro and the dollar. The central bank is scheduled to release the minutes of the July 7 meeting at 9:30 a.m. in London. Asian stocks and European equity futures advanced.
The pound traded at 87.83 pence per euro as of 7:23 a.m. in London, from 87.80 pence yesterday. It reached 87.05 pence on July 18, the strongest since May 31. Sterling was at $1.6122 from $1.6123. It weakened 0.2 percent to 127.43 yen.S
Britain’s currency has dropped 6.9 percent in the past 12 months against nine developed-market peers tracked by Bloomberg Correlation-Weighted Currency Indexes, the second biggest decline after the dollar’s 12 percent fall.
To contact the reporters on this story: Lukanyo Mnyanda in Edinburgh at lmnyanda@bloomberg.net
To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net
