Pound Hits Highest Level Since Brexit Referendum
· World · BBC News, The Independent
The pound rose to its highest level since the 2016 Brexit referendum, reaching 86.4 on the Bank of England's index where 100 equals the 2005 value. Sterling strengthened against the euro and dollar ahead of an expected interest rate hike, with the Monetary Policy Committee set to decide on rates Thursday. Traders cited improved political stability, solid growth and EU rapprochement as factors supporting the currency. A stronger pound can help curb inflation and boost consumer buying power on imports and holidays.
Why it matters
Consumers and importers benefit from reduced import costs, while exporters may face pressure as a stronger pound makes UK goods more expensive abroad.
Read the original report — BBC News
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