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Pound Extends Gain Versus Dollar After ECB Holds Rate at Record

The pound extended a gain versus the dollar after the European Central Bank held its key interest rate at a record low.

Sterling rose 0.3 percent to $1.5577 at 12:48 p.m. London time. It slipped 0.2 percent against the euro to 78.86 pence.

ECB policy makers meeting in Frankfurt today left the benchmark rate at a record low of 0.75 percent, as predicted by 51 of 55 economists in a Bloomberg News survey. Four predicted a cut to 0.50 percent. The deposit rate was held at zero.

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