Currencies

Currencies

Sterling surges to one-year high after UK growth and US inflation surprises

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Sterling rose to its highest level against the dollar in almost a year on Thursday after the UK economy grew more than expected in May while lower than forecast US inflation drove a broad retreat in the greenback.The pound rose as high as $1.2947, the highest level since late July 2023, and was later trading up 0.5 per cent at $1.2907 after data showed the UK economy grew 0.4 per cent, having...
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