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Pound Weakens as Prospect of BOE Policy Tightening Seen Delayed

  • Sterling touches two-week low versus dollar, falls for 4th day
  • Forward contracts signal fading BOE rate-increase bets in '16
Updated on

The pound fell to a two-week low against the dollar as investors speculated on further delays in an interest-rate increase by the Bank of England.

Sterling slid for the fourth day versus the U.S. currency as the Federal Reserve’s decision last week to keep its benchmark policy rate on hold at record lows prompted investors to push back the date of when the BOE would tighten its monetary policy for the first time since 2007.