Sterling holds steady after Bank of England rate hike
Sterling remained virtually unchanged after a six session rally as the Bank of England raised interest rates to four percent. Policymakers indicated that future tightening may be limited. Meanwhile the dollar fell following US midterm election results.
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Sterling held steady on Thursday following a six-session rally against the dollar, as the United Kingdom central bank raised rates for the first time in over three years. The move came alongside policymakers indicating that the total tightening cycle might be smaller than what markets had priced in.
