Pound reaches 26 year dollar high

[IVA News]

Pound reaches 26-year dollar high

Sterling has continued to climb against the US dollar, moving above $2.01, the highest rate since June 1981.

The currency broke through $2 level on Tuesday after unexpectedly high UK inflation figures indicated further UK interest rate rises were likely.

The Bank of England is widely expected to raise rates on 10 May and at least once more later in the year.

The US dollar is also at two-year lows against the euro and 17-year lows against the Australian dollar.

Source: bbc.co.uk

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