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Pound nears six-month high against the dollar as traders expect rate rise

The currency has climbed for four weeks as strong economic numbers lead traders to bet the Bank of England will raise rates. But analysts at the bank ING expect borrowing costs to stay flat, warning the pound could lose about 2% of its value. Markets are now looking toward October's budget from Andy Burnham’s government, which just promised £10 billion for cheaper London rental homes.

1 hour ago