Sterling boosted by BoE minutes, gilts drop

LONDON: Sterling rose while UK gilts fell on Wednesday after minutes from the last Bank of England policy meeting showed members were still split at 6-3 on further asset purchases, confounding some who were expecting a closer vote.

Sterling rose to a session high of $1.5140 from around $1.5034 after the BoE minutes were released, and up 0.2 percent on the day. The BoE minutes also showed policymakers were worried about further sterling weakness, given it will add to inflationary pressures.

The euro fell to 85.32 pence from around 85.77 pence , steady on the day.

June gilt futures fell to a session low of 117.63 from 117.80 beforehand.