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Pound hits highest level since Brexit vote

Sterling has jumped to its highest level against the US dollar since the Brexit vote. The surge to almost $ 1.37 came after Bloomberg reported that the Spanish and Dutch finance ministers had agreed to seek a Brexit deal that kept the UK as close to the EU as possible. The pound rose more than 1% to $ 1.3691, its highest level since 24 June 2016. The currency had been trading at about $ 1.50 before the result of the referendum became clear. Later on Friday, sterling gave up some…

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Pound jumps as Bank of England hints at rate rise

The Bank of England has said that higher inflation and a pick up in growth could lead to a rate hike in “the coming months”. Members of the Bank’s nine-strong Monetary Policy Committee voted 7-2 to keep interest rates on hold at 0.25%. But the committee was talking in much stronger terms about an increase, analysts said. The pound climbed nearly 1% against the dollar to $ 1.3314 after the Bank’s announcement. It said the growth outlook was slightly stronger than it had predicted last month. The nine policymakers on…

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Pound falls ahead of Theresa May Brexit speech

The pound has hit its lowest level for more than three months on reports Britain was set to quit the EU single market as part of its Brexit plans. Sterling fell below the $ 1.20 level before recovering slightly on Monday. The pound also dropped to a two-month low against the euro, falling more than 1% to 1.13 euros in Asian trading. Analysts said traders were reacting to reports that UK Prime Minister Theresa May would use a speech on Tuesday to signal a so-called “hard Brexit”. Reports have suggested…

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