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Sterling set for third straight weekly gain, but vulnerable

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Reuters UK

By Stefano Rebaudo (Reuters) – Sterling was slightly lower on Friday but still set for its third consecutive weekly gain against a weakening U.S. dollar. Analysts expect the pound to remain vulnerable as central banks, including the Bank of England (BoE), will tighten their monetary policy even into a recession, which is expected to be deeper in Britain than in the U.S. Expectations for rate hikes, which usually boost a currency’s value, might harm the pound by dampening the country’s economic outlook. “In view of major economic and inflation risks, GBP yields cannot be high enough to prevent …

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