Pound v US dollar: GBP Exchange Rate Tumbles On BoE Rate Hike Speculation

 The pound is plummeting against the US dollar again this morning as markets remain cautious ahead of the Bank of England’s (BoE) policy meeting next week.

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The pound is plummeting against the US dollar

THE pound is plummeting against the US dollar again this morning as markets remain cautious ahead of the Bank of England’s (BoE) policy meeting next week.

The pound is currently at around $1.308 against the US dollar, down 0.35 per cent from the session’s opening levels of $1.314.

Sterling is in freefall once again this morning as investors remain sceptical over whether the BoE will actually raise interest rates next week.

Speculation of a November rate hike was first prompted by hawkish comments from BoE Governor Mark Carney in early September, when he suggested rates could rise in the coming months, causing many analysts to predict that the BoE would raise rates in tandem with the publication of its latest inflation report.

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