Sterling gained strength, breaching $1.25 for the first time since June, despite a warning of an upcoming interest rate cut from Bank of England (BoE) policymaker Silvana Tenreyro. Sterling has edged up 3.4% this year and is the best performing G10 currency, even though it is trading 15.5% below pre-Brexit levels. The BoE is expected to raise rates in May, with no cuts expected this year. The results of a speech due from BoE Chief Economist Huw Pill later should confirm sterling's current level, said Jeremy Stretch of CIBC Capital Markets.
