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Pound slips vs. dollar after U.S. inflation and Fed comments
Reuters said sterling eased 0.2% to $1.331 on Wednesday as the dollar strengthened after October U.S. CPI and comments from Federal Reserve officials.
Based on reporting by Reuters
The British pound fell against the U.S. dollar on Wednesday, Reuters reported, as the dollar strengthened after October U.S. consumer-price figures and comments from Federal Reserve officials a day earlier1.
Sterling was down about 0.2% at $1.331, near a two-week low and after a 0.7% decline in the previous session, according to Reuters1. The dollar index rose for a second consecutive day after consumer prices increased more than expected in October, a third straight month of upside surprises, the report said1.
Those readings and the Fed remarks increased bets that the U.S. central bank will raise interest rates at its next meeting, Reuters said1. Analysts have said expectations of a more hawkish Bank of England have lately given the pound some support, the report added1.
Against the euro, the pound was little changed at 83.6 pence after four sessions of declines, Reuters said, the longest such run since early September1.