FOREX-Dollar in doldrums as traders ponder Fed policy path; sterling soars
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Summary:
By Kevin Buckland, Tom Westbrook * Graphic: World FX rates tmsnrt.rs/2RBWI5E
By Kevin Buckland and Tom Westbrook
TOKYO/SINGAPORE, June 1 (Reuters) - Sterling hit a
three-year high and the dollar traded under pressure on Tuesday,
as investors waited for the next batch of U.S. and European data
to shape the outlook on interest rates.
Central bankers on both sides of the Atlantic have
repeatedly said recent price pressures are likely to be
transitory, and not prompt pre-emptive policy tightening, but
investors are wary of a strong recovery forcing their hand.
A shift in tone in Britain has helped sterling scale
February's peak on Tuesday in the wake of remarks last week from
Bank of England policymaker Gertjan Vlieghe pointing to rates
rising late next year or sooner if the ...
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