sterling

Sterling has recovered from a seven-week low, moving higher against the dollar after it fell on Moody's threat to downgrade a raft of UK banks.

Inflation rose to its highest level since September 2008 last month, reversing the previous month's retreat and breaking sterling's five-day decline against the dollar.

Sterling jumped across the board after the Bank of England's latest report said inflation is likely to remain above target for longer, fuelling expectations the MPC will act sooner to tackle price rises.

Speculation the Bank of England will lower its economic growth forecasts has caused the pound to slump in afternoon trading.

2CG, the boutique founded by Charles Glasse and Christopher Garsten, has added a sterling share class to its flagship European Capital Growth fund which will be available to retail investors for an eight-week period.

Sterling has strengthened against the dollar as a report revealed UK consumer confidence increased in March from record lows, boosting the Bank of England's case for an interest rate hike.

The pound reached a 14-month high today while gilts fell, after data revealed UK inflation soared to 4.4% in February.

PIMCO's Ketish Pothalingam and Luke Spajic, discuss why the sterling credit market offers more opportunity than the euro and dollar markets.

Sterling fell against the dollar and the euro after the Bank of England downgraded its economic growth forecast for 2011.

The pound has gained against the euro ahead of Wednesday's Bank of England inflation report, which is expected to show inflation has hit over 4%, increasing pressure on the Bank to cut rates.