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Pound Drops After BoE Decision
(RTTNews) - As expected, the Bank of England raised its key rate by 50 basis points to 3.50 percent from 3 percent. Following the decision, the pound fell against its major counterparts.
The pound was trading at 1.2306 against the greenback, 168.12 against the yen, 1.1425 against the franc and 0.8627 against the euro around 7:04 am ET.
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The antipodean currencies such as the Australia and the New Zealand dollars strengthened against their major currencies in the Asian session on Tuesday, as Asian markets traded higher following Trump's softened stance on tariff hikes.
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Yen Slides Against Majors
The Japanese yen weakened against other major currencies in the Asian session on Tuesday.
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