Currencies: British pound rallies after hawkish tilt from BOE, as dollar falls from 2-week high

Foreign exchange investors turned to currencies perceived to be havens from turmoil, such as the Swiss franc and the Japanese yen, as equities fell once again, while the U.S. dollar also managed to hold on to modest gains.

The British pound earlier delivered the most impressive performance among the U.S. dollar’s main rivals on Thursday, rallying more than 1% as the Bank of England made a hawkish tilt and suggested faster interest rate increases.

What are currencies doing?

The ICE U.S. Dollar Index DXY, -0.07% which measures the greenback against a basket of six rival currencies, was up 0.1% to 90.341, after hitting a two-week high earlier in the day.

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