The English pound drove to its highest value since late 2012 against the common currency of the European Union as the trade week came to a close, after the chief of the Bank of England said the body he leads is considering an interest rate hike earlier than anticipated, according to Bloomberg.
The pound rose against 30 of 31 of its major rivals after Governor Mark Carney said increased interest rates might have an impact on the economic recovery. Yields on two-year bonds issued by the government of the U.K. pushed to their top level in nearly three years.
"Carney has helped deliver a repricing of the market," currency strategist Michael Sneyd with BNP Paribas SA in London told the news outlet on Friday. "Even from here there is more room for the market to bring forward rate hiking. We continue to like the pound."
The pound rose about 0.1 percent against the euro, marking an eighth consecutive day of advances.
The Independent reports interest rates in England presently stand at 0.5 percent, which marks an all-time low level.
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