Pound flat ahead of BOE, dollar holds fast to recent gains

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Reuters UK

By Alun John HONG KONG (Reuters) – The dollar held onto recent gains on Thursday, helped by several U.S. Federal Reserve officials pushing back against suggestions they will slow the pace of interest rate hikes, while the pound was flat ahead of a Bank of England policy decision. The BOE is expected to raise rates by an aggressive 50 basis points (bps) to 1.75%, the highest level since late 2008, but sterling was little changed in Asia trade ahead of the decision, due at 1100 GMT, at $1.2148. The BoE has never raised the Bank Rate by a half point since it was made independent in 1997. The doll…

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