Dollar holds gains against sterling, yen as central bank decisions loom [CNBC]
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Source: CNBC
John Lamb | The Image Bank | Getty Images The dollar held gains against its major counterparts on Thursday as markets positioned for central bank decisions in Britain, Europe and Japan. Sterling remained lower after an unexpected drop in UK inflation backed the case for a rate cut by the Bank of England. The yen trimmed losses from the previous session as the Bank of Japan starts a two-day meeting that is expected to result in a hike in policy rates to a three-decade high. “There'll be a generally stronger dollar,” said Ray Attrill, head of FX strategy at National Australia Bank. The surprisingly weak UK inflation readout in the prior session “has sealed the deal for a BOE rate cut later today.” The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, was little changed at 98.35 after a 0.2% advance in the prior session. The yen strengthened 0.2% against the greenback to 155.45, trimming a 0.6% slide on Wednesday. Th
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