The pound has jumped to its highest level against the dollar since the leadership crisis that engulfed Boris Johnson, after slowing inflation weakened the US currency.
Sterling climbed as much as 1.4pc versus the dollar to above $1.24 for the first time since mid-June, before the currency was laid low by months of turmoil in Westminster. Sterling is up by almost a fifth from the record low hit against the dollar following the mini-Budget but it is still on course for a 9pc loss this year.
The move was driven by data showing that prices in the world’s largest economy climbed by 7.1pc in November compared to a year earlier.
Falling costs for used cars and weaker year-on-year increases to energy prices drove the decline in the inflation rate from 7.7pc in October. Core inflation - which strips out volatile energy and food prices - edged down from 6.3pc to 6pc.
https://tnewsline.com/2022/12/13/business/pound-hits-highest-level-since-boris-johnsons-leadership-crisis/
happytoes -1 points 1.4 years ago
This probably belongs in https://www.voat.xyz/v/UnitedKingdom
Must goats don't want to know about a crappy little country adrift in the North Sea.
I do. But that is because I live there. For now. And for a few more weeks until I die of hypothermia.