The pound is at its highest level since the Brexit vote

The pound is at its highest level since the Brexit vote

The pound is at its highest level since the Brexit vote

In early trading on Tuesday, the pound reached $1.4377, surpassing a postreferendum high set in January.

Markets care about the data because of the influence that changes in unemployment and wages can have on inflation, in that lower unemployment and faster wage growth means higher inflation further down the line.

Sterling's value has increased by more than 6% since the start of the year, and it is now "the darling of the currency world". After the labor market figures it was steady at $1.4363, its highest since the Brexit vote.

He said: "While the dollar weakness partly explains sterling's strength, higher risk appetite, Brexit negotiations, and surging short-term interest rates were the key attributes to the surging pound".

Authorities Identify Three Bodies Belonging to Missing California Family
The Thottapilly family was on a road trip from OR to San Jose when their SUV plunged into the Eel River in Northern California. Deputies said Siddhant Thottapilly remains missing and another search operation is scheduled for Monday.

The value of the pound fell sharply against both the dollar and euro after Britain chose to leave the EU. Sterling fell as low as $1.20 at the beginning of 2017, having traded at close to $1.50 prior to the vote.

Rising to $1.4364 by today morning, the pound has hit its highest level against the dollar since the Brexit vote in June 2016 amid hopes that the United Kingdom and European Union can avoid a hard Brexit and strike a deal.

Hussein Sayed, the chief market strategist at FXTM, said in an email on Tuesday morning: "With more than 6% gains since the beginning of the year, the pound is now the best performing major currency".

Sterling has strengthened notably over the course of the past year as the risks of a hard Brexit have diminished, while the dollar has also weakened.

Remember demonetisation days? Netas react to cash crunch
The Centre on Tuesday admitted to the cash crunch and blamed it on uneven distribution of currency by the RBI across states. We need to pay for the admission of children and purchase groceries and vegetables, ' said a common man from Varanasi.

The pound's strength can be put down to "seasonal trends, the anticipation of a May BoE rate hike and a politically weak United States dollar", according to Viraj Patel, foreign exchange strategist at ING.

Anticipation of a rate hike mounted after the BoE warned in February that it could raise rates further and faster than markets were gave it credit for if the United Kingdom inflation picture evolved in line with its most recent forecasts. "A three per cent wage growth print in today's United Kingdom jobs report should seal the deal for a May BoE hike".

The ONS will publish March's inflation figures on Wednesday.

Maple Leafs host Bruins for Game 3
Toronto bounced back after two big losses in Boston, and the B's now have a two games to one lead in the best-of-seven series. In particular, Cassidy felt that since the officials gathered at centre ice to discuss the call there was some confusion.

Related news