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Pound Drops After BoE Decision
(RTTNews) - The Bank of England hiked its key rate by 25 basis points to 1.25 percent from 1 percent, as expected. Following the decision, the pound fell against its major counterparts.
The pound was trading at 1.2088 against the greenback, 161.01 against the yen, 1.1875 against the franc and 0.8603 against the euro around 7:04 am ET.
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U.S. Dollar Rises As Traders Focus On U.S. Data, Trade Talks
The U.S. dollar strengthened against other major currencies in the European session on Tuesday, as traders awaited the outcome of ongoing U.S.-China talks in Stockholm, key U.S. economic indicators and upcoming Fed and BoJ rate decisions.
Top economic officials from both nations held over five hours of negotiations on Monday to resolve longstanding economic disputes and lay the groundwork ahead of a leaders' summit in the autumn.
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U.S. Dollar Rises Against Majors
The U.S. dollar strengthened against other major currencies in the European session on Tuesday.
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