Sterling drifts lower as traders question prospect of interest rate hike
Sterling fell against the US dollar despite Bank of England Governor Mark Carney telling MPs that a rate hike may be needed over the coming months.
Sterling rolled back against the US dollar on Tuesday as currency traders mulled the prospect of interest rates being kept on hold next month.
The pound was down 0.5% versus the greenback at 1.31 despite Bank of England Governor Mark Carney telling MPs that a rate hike may be needed over the coming months to tackle surging inflation.
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