Sterling stands tall before BoE rates decision

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Sterling stands tall before BoE rates decision
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The British pound headed for a fourth consecutive day of gains on Thursday, buoy...

LONDON - The British pound headed for a fourth consecutive day of gains on Thursday, buoyed by signs of a possible breakthrough in Brexit talks ahead of a central bank meeting.

Sterling has traded in a narrow range of $1.28-$1.30 since Britain last month pushed its scheduled departure from the European Union back from March until Oct. 31. The Bank of England looks set to leave interest rates on hold on Thursday and keep its options open for later in the year when it announces its first policy decision since the delay of Brexit.

Some analysts believe a so-called “hawkish hold” by the central bank could lift sterling but only marginally with so little clarity about when, how, or even if, Brexit will happen.

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