Bank of England softens its tone despite rising inflation |
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Highlights Negative growth in the eurozone Strong dollar and global growth worries push commodity prices down Dollar rally continues The dollar continued to gain ground against almost all major currencies this week. EUR-USD slipped further to 1.4720. Cable fell a further 7 cents and by the end of the week was only 1.86 – a 21 month low. Since mid-July, the UK currency has lost over 7% versus the dollar. During the course of the week, the dollar firmed against the yen too, rising above 110. Of
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