Sterling hit a four-week high against the dollar on Tuesday as expectations mount the Bank of England (BoE) will hike interest rates, while the greenback dipped as the rapid rise in U.S. Treasury yields in recent days stabilised.
Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9Hv (Updates thoroughly)
LONDON, June 10 (Reuters) - Sterling reversed earlier losses to rise versus the dollar and euro on Thursday after data showed U.S. consumer prices climbed, while the European Central Bank maintained an elevated flow of stimulus as expected.
After touching in early London trading its lowest level in one month at $1.4074, sterling rose 0.3% to $1.4155 versus the dollar at 1445 GMT.
Versus the euro, the pound was 0.3% higher at 86.00 pence, after it touched a 10-day low of 86.42 pence against the single currency.
As economies rebound from lockdowns, U.S. consumer prices rose 5% year on year, marking the biggest annual increase since August 2008, while the ECB raised its growth and inflation projections for 2021 and 2022.