(Bloomberg) -- The U.K. pound dropped before Bank of England's policy makers are due to testify to a Treasury committee on speculation the central bank may signal the market is overpricing interest-rate increases.
The U.K. currency fell yesterday as its recent climb to the highest in 25 years last week was judged by traders as being too rapid. Interest-rate futures suggest investors bet the central bank will probably raise borrowing costs twice more this year. The central bank testimony starts at 9:30 a.m. in London.
Read more at Bloomberg Currencies News
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