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British Pound Under Pressure as Expectations of a 1% Rate Hike by the BoE Soar

The British pound dropped on Wednesday as investors weighed the prospects for interest rates following the elimination of the majority of the government’s “mini-budget” as statistics revealed that rising food costs drove British inflation into double digits last month. The pound was down 0.7 percent against the dollar at 1.12240 as of 11:30 GMT and […]

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British Pound Cuts Losses Against the Dollar as BoE Announces Quantitative Easing Plans

The British pound (GBP) clawed its way back from its previous crash as relief at the Bank of England (BoE)’s intervention in the bond market eased away. Sterling recorded its highest jump since mid-June yesterday after the BoE announced plans of an emergency bond-buying plan to support the freefall suffered by the economy and the […]

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