Sterling up after Bank of England keeps interest rates low
Sterling continued to rise against the US dollar during Monday’s trading, after the Bank of England announced that it was keeping interest rates at their record low and Nick Clegg released a statement saying that decisions on power sharing talks would be concluded “as soon as possible”.
The Bank of England announced earlier in the day that its interest rate would be kept at 0.5%; the Monetary Policy Committee also announced that the limit on quantitative easing would say at £200bn.
Sterling rose by 1.3% against the US dollar during Monday trading, ending the session at 1.5008, a 2 day high and surged against the yen ending the session at 139.96 yen, a 3.1% increase.