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UK two-year gilt yield hits highest since just before pandemic

FILE PHOTO: Workers emerge from Bank underground station with the Bank of England and Royal Exchange building seen in the City of London financial district, London, Britain

LONDON (Reuters) - British two-year government bond yields on Friday hit their highest since February 2020, just before the coronavirus pandemic struck the country.

Gilt yields have risen sharply in recent weeks on expectations that the Bank of England is approaching its first post-pandemic interest rate hike.

Two-year gilt yields rose as high as 0.522%, up about 4 basis points on the day.

(Writing by William Schomberg; Editing by Alison Williams)

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