Pound Rebounds on Report BOE Offers to Extend Bond Purchases
- Volatility jumps in sterling amid signaling whiplash
- Bailey comments on bond buying plan end had weakened pound
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The pound swung to a gain after a Financial Times report appeared to walk back comments from Bank of England Governor Andrew Bailey, who had said the central bank is set to halt its market support this week.
The British currency reversed a loss of as much as 0.4% to trade 0.2% higher in early London trading. The BOE had signaled privately to bankers it could extend a bond-buying program past Friday’s deadline, the FT said, though it was unclear from the report when that guidance was given.