Market Extra: Here’s why the pound got whipped this week — and why it may bounce back to $1.44

What a roller-coaster week it has been for the pound.

The U.K. currency GBPUSD, -0.3409% kicked off the week in an bubbly mood, rising to its highest level since the EU referendum in June 2016 at $1.4377 on Tuesday, as traders celebrated the outlook for higher U.K. interest rates and progress in Brexit talks.

But it didn’t take long for the euphoria to fizzle. Disappointing economic data put an abrupt halt to the rally, with the final blow coming Thursday night when Bank of England Governor Mark Carney hinted that a May rate rise is by no means a foregone conclusion.

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