(Bloomberg) -- The pound held near $2 against the dollar on speculation the U.K.'s interest-rate premium over other countries will widen as accelerating inflation forces the Bank of England to increase borrowing costs further.
The pound rose earlier today as BOE Governor Mervyn King yesterday said he was ``determined'' to bring down inflation. A government report today showed the economy expanded faster than expected in the first quarter, supporting expectations of a rate increase next month.
Read more at Bloomberg Currencies News
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