Sterling Could Fall as Dollar Strengthens1114 GMT - Sterling may fall against the dollar to the 1.2590/1.2610 area on Monday as the dollar strengthens, supported by robust U.S. activity data, ING analyst Chris Turner says in a note. In addition, sterling movement will likely be hit by U.K. labor market and inflation reports due to be released Tuesday and Wednesday, respectively. ING expects U.K. services inflation to come in weaker than expected, lowering the chances of a 50 basis points Bank of England interest-rate rise. "Sterling may have more trouble with Wednesday's July CPI data," Turner says. ---Stelrad Backs Guidance After Adjusted Operating Profit FellStelrad Group said that adjusted operating profit fell for the first half against a tough comparative and backed its guidance for the year.

Source: Wall Street Journal August 14, 2023 11:50 UTC