By Lukanyo Mnyanda Nov. 19 (Bloomberg) -- The pound rose against the dollar and the euro before the Bank of England releases minutes of its meeting on Nov. 6, when it cut interest rates to the lowest level since 1955. The pound was at $1.4983 as of 9:22 a.m. in London, from $1.4958 yesterday. The U.K. currency is down 24 percent against the dollar this year. Against the euro, it traded at 84.10 pence, from 84.35 pence. It reached a record low of 86.63 pence last week. “Most of the bad news has already come out and the currency should consolidate,” said Roberto Mialich, a Milan- based currency strategist at Unicredit Markets & Investment Banking. “The dovish inflation outlook has prompted the markets to price in more aggressive rate cuts from the Bank of England.” To contact the reporter on this story: Lukanyo Mnyanda in London at lmnyanda@bloomberg.net

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