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The pound is at its highest level against the dollar since Britain voted to leave the European Union.
In early trading on Tuesday, the pound is at $1.4372, surpassing a previous post-referendum high set in January.
Sterling’s value has increased by more than 6% since the start of the year, and it is currently “the darling of the currency world.”
You can track the value of the pound with Markets Insider.

LONDON — The British pound has climbed to its highest level against the dollar since Britain voted to leave the European Union almost two years ago.

The pound is up around 0.25% against the dollar to trade at $1.4372 in early European trading on Tuesday — just above its previous post-referendum high set in January. The pound has now made gains against the dollar for seven consecutive trading days.

The pound is also going strongly against the euro, reaching €1.1582, its highest level since May 2017.

The pound’s value plummeted against both the dollar and euro after Britain voted to leave the European Union, experiencing the biggest single-day drop of any major currency in history on the day after the vote. Sterling fell as low as $1.20 at the beginning of 2017, having traded at close to $1.50 prior to the vote.

However, since the middle of last year, the pound has ripped higher, with the currency trading more than 15% above levels seen this time last year.

Several factors have supported this recent resurgence, ranging from an increased market confidence that the UK and EU can strike a Brexit deal, to falling confidence in the agenda of US President Donald Trump, which has weakened the dollar.Britain’s better than expected economic performance over the last 18 months has also helped the pound over recent months.

Hussein Sayed, the chief market strategist at FXTM, said …read more

Source:: Business Insider

      

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