Sterling finds some stability above seven-week lows vs dollar
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The pound held steady against the dollar and the euro on Wednesday, rebounding from seven-week lows against the U.S. currency. The British currency's moves against the dollar have been comparatively more dramatic, dropping to $1.254 on Monday, the lowest since mid-February. Markets are currently pricing a 62% chance of a June Fed rate cut and roughly a similar chance of a cut by the Bank of England. U.S. jobs data, due Friday, will provide the latest information to shape expectations for the U.S. rate outlook.