Pound Falls Against Euro as Traders Reduce Bets on Interest-Rate Increases

(Bloomberg) -- The pound declined against the euro as
investors cut expectations the Bank of England will raise
interest rates this year for a sixth time.

Traders are betting on one more rate increase on signs
borrowing costs at a six-year high are beginning to slow the
economy. The European Central Bank, by contrast, will raise rates
at least twice more, futures trading shows. Economists predict
U.K. industrial production almost stalled in June, adding to
signs the economy may be losing momentum.


Read more at Bloomberg Currencies News