MPC member's optimism triggers sterling's gain.
The pound gained off the back of optimistic comments from the Bank of England's MPC member Andrew Sentence, who said the Bank had done enough to lift
Mark Bolsom, Head of the UK Trading Desk at Travelex, the world's largest non-bank FX Payments specialist, said "Although Sentence's bullish comments will reassure investors, they are at odds with Governor King's sustained support for
"Despite Sentence's optimism, we don't think the Bank of England will tighten up money supply anytime soon - they will be wary about choking off recovery in its infancy. It's very unlikely that they will raise interest rates above 0.5% for the next six months at least.
Bolsom expects the pound will continue to find support from Sentence's comments; however its medium-term prospects remain less certain, as
Date: 14th, January, 2010
Author: Charmaine L. Horan
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