The pound fell for a second day against the dollar as investors awaited the Bank of England’s latest policy decision and the minutes of its meeting.
Sterling weakened as a report showed a gauge of U.K. house prices unexpectedly dropped to a nine-month low in March. With analysts forecasting that the central bank will leave its key rate at a record-low 0.5 percent, investors may focus on whether officials discussed a looser monetary policy to counter the potential economic pain of Britain quitting the European Union. The Brexit debate helped send sterling down by about 4 percent against the dollar this year, the most among 16 major currencies.
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