(Bloomberg) -- The pound logged a weekly gain against the euro on speculation the Bank of England will raise interest rates next week in order to curb above-target inflation.
The U.K. currency touched a quarter-century high versus the dollar in the past month as a report showed inflation at 3.1 percent. Separate data this week said inflation will hold above the BOE's 2 percent target for another year. The pound yesterday failed to trade above the $2 milestone for the first time since April 17.
Read more at Bloomberg Currencies News
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