Sterling Rises Against Dollar to One-Month High

The pound sterling rose against the dollar Thursday, against the backdrop of receding expectations for an August rate cut from the Bank of England. The dollar fell a touch although moves were largely subdued ahead of a US inflation report due later in the day. The dollar was little changed at 104.95 against a basket of currencies. The British pound rose to a one-month high of $1.28545 in early Asia trade. Against the greenback, the euro gained 0.04% to $1.0834, and the Aussie dollar rose 0.01% to $0.6754. Elsewhere, the New Zealand dollar rose 0.11% to $0.60885. The yen last stood at 161.54 per dollar, near a 38-year low. Source: Qatar News Agency