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Pound jumps on rate-hike talk

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  • Writer: Associated Press
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LONDON: The British pound jumped on Friday to a five-year high against the dollar after the Bank of England governor said an interest-rate increase might come sooner than expected. 

The British currency rose to US$1.6965 from $1.6830 after Mark Carney said an interest rate increase from the current record low of 0.5% "could happen sooner than markets currently expect".

The last time the pound traded above $1.70 was in August 2009.

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