Sterling has priced in a 0.25% rate hike and it is likely to need a 0.5% rise to secure buying interest. The chances of a 0.5% hike are only around 10%. There is, therefore, the risk of profit taking after the rate decision, but Sterling should be able to secure initial support at the 1.8150 level against the US currency. Longer-term, Sterling still offers little value stronger than 0.66 against the Euro. Sterling weakened to a low of 1.8180 against the US currency, but rebounded back to 1.8265 in early Europe on Thursday as the dollar weakened again. Sterling held close to 0.66 against the Euro before dipping ... (full story)