The pound has rebounded strongly against the dollar and the euro in recent weeks, as a reversal of so-called Trump trades hits the US currency and investors bet that the UK economy may be faring better than previously feared.
Sterling has climbed 1.8 per cent against the dollar in February, its best month since September, despite losing some ground on Thursday. It has risen as high as $1.2715 this week, having dipped below $1.21 last month.
While inflation remains above target, better than expected retail sales and GDP data have provided a lift for investors worried about the UK’s anaemic growth.
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