Carney’s latest comments contradicted the Bank of England’s indication in February that a rate rise should be expected. REUTERS/Hannah McKay
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Sterling fell half a percent to a fresh two-week low against the dollar Friday after Bank of England Governor Mark Carney signaled that the central bank may not raise interest rates in May because economic data was "mixed".Markets are now pricing in a 40 percent chance of a 25 basis point rise in May, down from an almost 70 percent chance before Carney spoke.On Thursday, sterling slid close to 1 percent and the British currency is now down 1.5 percent this week, barely holding on to gains for April, which is normally a strong month for the pound.Hedge funds have amassed a $3.8 billion long bet on sterling, the biggest long position in almost four years, according to positioning data.
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