Business · 30 July 2026
Pound falls to $1.337 as the Bank of England holds interest rates
British sterling lost its earlier momentum on Thursday to trade near 85.85 pence against the euro. Currency markets shifted after the central bank voted 6-3 to keep borrowing costs steady at 3.75%, causing investors to expect fewer rate hikes. Governor Andrew Bailey noted that domestic inflation is dropping, even though the US-Iran conflict pushed oil prices up by a fifth this month.
Reported by Reuters · How we write briefs