Interest Rate Hike Expectations Fail to Bolster Sterling

The Great Britain pound failed to log gains today despite bets on an interest rate hike from the Bank of England this month.
The sterling was soft even as the market was pricing in more than 80% chance of a rate hike next Thursday. The currency actually did attempt to rally earlier but failed. Now, it is trading close to its opening level against most major rivals and below it versus the Japanese yen. It looks like, with less than nine months before the complete separation of Great Britain from the European Union, traders are worried that the British government has little time to negotiate a favorable trade deal with the EU.
GBP/USD traded at 1.3176 as of 11:12 GMT after rising from 1.3185 to 1.3213 earlier today. GBP/JPY dropped from 146.34 to 146.04.

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