Pound Falls Most in Two Weeks Versus Euro as BOE Rate Cut Looms

Updated on
  • Swaps indicate 100% chance of rate cut by BOE on Aug. 4
  • U.K. 10-year gilt yield declines to lowest on record

The pound dropped the most in two weeks against the euro as traders anticipated that the Bank of England will lower interest rates for the first time in more than seven years when it announces its latest policy decision on Aug. 4.

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