The pound has climbed to its highest point since January against the dollar

Courtney Goldsmith
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The dollar is being dragged down by uncertainty (Source: Getty)

The pound has jumped to its highest level against the US dollar since January this morning as the greenback continued to slump on uncertainty.

Sterling shot to a peak of $1.4296 against the dollar and rose to an 11-month high of €1.1589 against the euro, though at the time of writing it had edged down somewhat from those highs.

"Dovish minutes from the ECB [European Central Bank] yesterday, coupled with a wider story of USD weakness has ensured the pound continues to outperform against its main peers," said Joshua Mahony, market analyst at IG.

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Connor Campbell, financial analyst at Spreadex added:

The euro’s aforementioned softness, prompted by an ECB keen to dismiss the idea that it was changing tact policy-wise, helped the Eurozone indices eke out some mild growth after the bell.

The Dax was up 0.2 per cent and nearing 12,450, with the Cac just about re-crossing 5,300 with a 0.1 per cent increase.

The FTSE was down slightly at 7,253.84 due to the strength of the pound.

Read more: Dollar tumbles as pound hits two-week high

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