(Bloomberg) -- The pound traded near a two-month low against the euro before the Bank of England's quarterly inflation report today and on speculation its value already reflects the likelihood the Bank of England will raise interest rates further this year to ward off inflation.
The U.K. currency also slid to its lowest in four weeks versus the dollar yesterday after a report showed inflation slowed last month from the highest in a decade. Traders held onto bets the central bank will raise rates twice more this year, futures prices show.
Read more at Bloomberg Currencies News
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