(Bloomberg) -- The pound headed for a second weekly gain versus the dollar as signs U.K. inflation is quickening prompted investors to raise bets the Bank of England will lift interest rates twice more this year.
The U.K. currency reached $2 this week for the first time since 1992 when George Soros and other speculators forced it out of the European system of linked exchanged rates. Government reports showed rising inflation, which climbed to the highest in a decade last month, might be feeding into wage negotiation.
Read more at Bloomberg Currencies News
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