Pound LIVE: Sterling steadies as time starts to run out on Bank of England support

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The pound has steadied itself against the dollar, as the deadline for the Bank of England to pull the plug on its financial support looms closer. On Thursday morning, the pound stood at $1.107, a change of 10.23 percent from the previous day. The pound was spun into chaos on Wednesday, following a report in the Financial Times suggesting that the Bank of England’s bond-buying programme could continue past Friday’s deadline. However, a spokesperson for the Bank insisted this was not the case, causing the market to cautiously steady itself as investors skittishly wait for the deadline. 

The BoE was forced to intervene two weeks ago to buy government bonds to help pension schemes that have suffered since the announcement of Kwasi Kwarteng’s budget on September 23. 

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