Pound Weakens as Bank of England Starts Two-Day Policy Meeting
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The pound fell for the first time in three days against the dollar as Bank of England policy makers started a two-day meeting to decide whether to add more stimulus to revive the struggling economy.
The U.K. currency weakened all except two of its 16 major counterparts as 11 of the 39 economists surveyed by Bloomberg News predict the central bank will tomorrow increase its asset-purchase target to at least 400 billion pounds ($603 billion) from the current 375 billion pounds. The remainder forecast so-called quantitative easing will be kept on hold. U.K. government bonds were little changed.