Sterling continues bullish run

FXstreet.com (London) - Sterling is closing out 2013 continuing the bullish run that has been in place through the second half of the year. The strong run has been driven by continuingly robust macro data that pushed the Bank of England to forward revise forecasts for its interest rate hikes. The BoE has stated that it will not move to hike rates from its current record-low 0.5 percent rate until unemployment falls below 0.7 percent. It is now expected that this threshold will be breached by the fourth quarter 2014.

Sterling has been one of the strongest performers of the G10 currencies over the last six months, climbing 6.7 percent since June.

GBP/USD is currently trading at USD1.6540, up 0.77 percent on the day.