June 29, 2017 / 7:30 AM / 6 months ago

Sterling hits one-month high as BoE rate hike bets brought forward

LONDON, June 29 (Reuters) - Sterling climbed close to $1.30 on Thursday, hitting its highest since before Britain’s parliamentary elections, as investors brought forward their expectations for when the Bank of England would begin to tighten monetary policy.

Sterling strengthened to $1.2995 in early European trade, its strongest since May 25 against a broadly weaker dollar. Against a stronger euro it was flat at 88.0 pence .

BoE Governor Mark Carney said on Wednesday that a rise in interest rates was likely to be needed as the economy comes closer to running at full capacity, and that the Bank would debate this “in the coming months”. (Reporting by Jemima Kelly; Editing by Nigel Stephenson)

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