THE Pound has suffered its longest losing streak since the early days of the pandemic, as markets bet interest rates will not spike as high as feared.
Traders are now betting the base rate – currently 5 per cent – will hit a peak of 6 rather than 6.5 per cent.
The stance has knocked sterling for seven days in a row, the worst run since March 2020.
The currency slip came on the back of figures showing British private companies had their slowest growth in six months.
The firms reported that interest rates had started to bite.