Pound soars, ex­ports up

Daily Mail - - News -

STER­LING soared to its high­est level against the dol­lar since the Brexit vote last night as in­vestors bet the UK econ­omy was strong enough to with­stand a rise in in­ter­est rates.

The pound traded above $1.36 for the first time since June 24 last year – the day af­ter Bri­tain voted to leave the Euro­pean Union.

It also reached a two-month high against the euro of al­most €1.14 as the Bank of Eng­land fu­elled spec­u­la­tion it could raise in­ter­est rates to 0.5 per cent as soon as Novem­ber.

Ster­ling has gained 3 per cent against the dol­lar this week and 13 per cent since Jan­uary – although it is still down 9 per cent since the ref­er­en­dum.

The surge came as statis­tics re­vealed the vol­ume of goods sold over­seas by UK man­u­fac­tur­ers rose by 9 per cent be­tween July last year and June this year.

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