Sterling on rollercoaster ride through volatile data

Emma Haslett
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The pound rose 0.43 per cent against the dollar, to $1.5739 on the strong UK jobs market news, while it gained 0.21 per cent against the euro, pushing it to €1.4004. However, by yesterday afternoon it reversed those gains, as the Bank of England’s quarterly inflation report slashed UK growth forecasts.

Last night sterling regained lost ground against the dollar to sit near $1.5738 and was buying €1.3867.