The pound strengthened against the dollar for Broker forex trading, before the Bank of England publishes the minutes of its most recent interest-rate meeting.
The British currency also advanced versus the yen and the Swiss franc. Minutes from the central bank’s Feb. 10 meeting, when it kept its benchmark rate unchanged at a record low 0.5 percent, may show a divide on the Monetary Policy Committee, which has been split three ways since October. Adam Posen has called for an expansion of the bank’s bond-purchase plan, while Andrew Sentance and Martin Weale want the key rate increased.
A small increase in the rate may prevent a more rapid tightening later, Weale said in a BBC Radio 4 interview broadcast on Feb. 21.
The pound gained 0.4 percent to $1.6199 as of 8:03 a.m. in London and 0.3 percent to 133.95 yen. The British currency was little changed at 84.68 pence per euro and strengthened 0.2 percent to 1.5172 Swiss francs.
Sterling advanced 3.8 percent versus the dollar this year and 1.3 percent against the euro amid speculation the Bank of England will raise its main interest rate this year to curb an inflation rate that’s double its target.