(Bloomberg) -- The U.K. pound logged its biggest weekly drop against the dollar for two months after the Bank of England matched economists forecasts yesterday by raising interest rates a quarter-point.
The pound also fell for a third week on speculation its recent gain to around the $2 mark already reflects expectations for further rate increases. All 61 economists surveyed by Bloomberg News forecast policy makers would lift the Bank Rate to 5.5 percent yesterday.
Read more at Bloomberg Currencies News
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