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Sterling gains ahead of central banker testimonies
Imaduddin
23 Feb, 2015
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Copyright Reuters, 2015
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![](https://i.brecorder.com/images/2015/02/sterling-feb.jpg">LONDON: Sterling rose to a seven-year high against the euro on Monday, after climbing in the past week to its highest in more than six years against the basket of currencies measuring its broader strength.</P><P>Although the pound has been weak against the dollar since last July, it has gained steadily against the European currencies in which it does most of its trade. In the past month it has also bounced 3 percent higher against China's yuan.</P><P>That all seems broadly the product of a steadying of expectations - after they were pushed back by more than a year - for the Bank of England to deliver an interest rate hike early in 2016.</P><P>That and the resulting higher yields on UK government bonds links sterling to the dollar as one of only a handful of major currencies able to offer investors some easy return on their money.</P><P>)
