The monetary unit of England pushed higher in value as the trade week began, prompted higher by the No. 2 official with the Bank of England stating he is open to an interest rate hike, according to Bloomberg.
The pound marked a ninth consecutive day of gains against the shared currency of the European Union after Deputy Governor Charlie Bean also said the regional economy is performing strongly. Last week marked the pound's biggest weekly advance in about 120 days against the world's reserve currency, propelled higher by Governor Mark Carney noting late last week that interest rates might rise sooner than anticipated.
The governor's "rather surprising chameleon-like conversion to a much more hawkish tone last week did catch the market somewhat unawares, inviting speculation that there could well be a split vote on rates," states an email authored by analyst Michael Hewson with CMC Markets Plc in London, according to Bloomberg.
The pound edged up about 0.1 percent against the greenback on Monday after marking gains of 1 percent last week.
Reuters reports confidence is spreading that the Bank of England will restrict monetary stimulus policy by the end of the year.
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