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Sterling steadies below $1.30 as focus turns to BoE
Sterling steadied near recent seven-month highs close to $1.30 on Tuesday, as traders looked to a Bank of England inflation report and policy meeting this week for new drivers for a currency that has climbed almost 5 percent in the past month. The BoE's "Super Thursday" will be closely watched for clues on how long UK interest rates will remain at record lows. Inflation has risen above the Bank's 2 percent target, outpacing wage growth and hitting consumers, who have shored up the economy since last year's Brexit vote. A recent Reuters survey forecast no change in interest rates until 2019 at the earliest as the ... (full story)