(Bloomberg) -- The U.K. pound headed for a third weekly drop against the dollar after the Bank of England matched market expectations by raising interest rates a quarter point.
The pound also fell from the week's high on speculation a 3 percent gain in the past two months already reflects expectations for higher borrowing costs. All 61 economists surveyed by Bloomberg News forecast the bank would announce a quarter-point increase in the Bank Rate to 5.5 percent yesterday.
Read more at Bloomberg Currencies News
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