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Pound rebounds 1% against dollar after BoE action

Pound down 2% against dollar after BoE rate hike
Source: Pixabay

The pound rebounded one percent against the dollar Thursday after the Bank of England bought UK government bonds as markets feared for Britain’s recession-threatened economy.

Sterling reached $1.0999, having earlier slumped one percent following the BoE’s move Wednesday and after the British currency hit an all-time low of $1.0350 at the start of the week.

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Agence France-Presse (AFP) is a French state-owned international news agency based in Paris. It is the world's oldest news agency, having been founded in 1835 as Havas.

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