The dollar climbed to a high of $1.2234 against the Euro Monday, but has since retreated to around $1.2285. The Bank of England is in no rush to hike rates and the rates will not go back to levels seen in the past, Chief Economist Andy Haldane said. "We have a very strong eye on inflationary developments, and they're currently ahead of our target," Newcastle Chronicle newspaper reported him as saying. "That's why we've raised rates once already." It seems likely that some further tightening of policy might be needed over the period ahead.