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Pound Rises Against Dollar After Bank of England Holds Key Rate

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Aug. 2 (Bloomberg) -- The pound advanced against the dollar and pared its decline against the euro after the Bank of England left its key interest rate and its asset purchase target unchanged.

Britain’s currency was 0.2 percent stronger at $1.5568 at 12:02 p.m. London time. It was 0.2 percent weaker at 78.86 pence per euro, after weakening as much as 0.5 percent earlier.

The U.K. central bank held its asset purchase target at 375 billion pounds ($583 billion) and left the benchmark rate at 0.5 percent, it said today in London.

To contact the reporter on this story: Emma Charlton in London at echarlton1@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net

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