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Could the Bank of England Postpone Hiking Rates?

Ricky Cove
Could the Bank of England Postpone Hiking Rates?

The British pound (FXB) depreciated 1.8% against the US dollar (UUP) in April, and has depreciated 1.9% so far in May. Weak economic data, dovish statements from the BOE (Bank of England), and a strong US dollar contributed to the slide of the British pound (GBB). Manufacturing and service data published last week was below expectations, leading to a further decline in the pound. A May rate hike, which was largely accepted by markets until the recent turn of events, now seems less probable.