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Sterling gave up all its earlier gains and was flat on the day thanks to a broad rebound in the dollar though hawkish comments from a central bank official boosted bets that interest rates may rise as early as May.Despite sterling's retreat, sentiment remained optimistic after Dave Ramsden, a deputy governor at the Bank of England and one of the two policymakers who opposed the BoE's decision to raise interest rates in November, said the central bank may need to raise British interest rates somewhat sooner he expected.Sterling was flat on the day after having rallied as much as 0.7 percent earlier to the day's highs at $1.4070 .Increased expectations of a BoE rate hike in May come after investors took profits into a sterling rally in recent weeks.
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