Dollar nudges up, sterling near 14-month highs ahead of BoE decision

The US dollar inched higher while the UK pound was near a 14-month peak as investors analysed decisions made by central banks globally to combat high inflation. While the European Central Bank signalled it may raise rates again, the US Federal Reserve did not which caused the Dollar Index to slide to its largest weekly fall since January, remaining close to a one-month low of 102.00, its biggest fall since January. Bank of England decisions, expected this week, are crucial as the bank attempts to tackle inflation running at over four times its target.