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Dollar Surged Against Pound After BoE Hikes Rates
The dollar is turning in a mixed performance against its major rivals Thursday afternoon. The buck is down slightly against the Euro and the Japanese Yen, but has jumped against the British pound after today's decision from the Bank of England. The Bank of England raised its key rate for the first time in a decade despite Brexit hurting the economy, as inflation sticks to upward trend on a weaker pound. The Monetary Policy Committee, headed by Governor Mark Carney, decided to lift the benchmark rate by 25 basis points to 0.50 percent. This was the first rate hike since July 2007. The MPC voted 7-2 to raise the ... (full story)
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