Sterling Back Above $1.40

Sterling climbed back above the $1.40 benchmark today in a sign the currency is strengthening after Brexit. The pound is one of the strongest performing currencies so far in 2018. The pound touched $1.20 this time last year but has since recovered. Thomas Flury at UBS told the Financial Times

“It looks like the pound is becoming increasingly resilient . . . Markets have probably become more confident that a cliff-edge Brexit in 2019 will be avoided.”

Next time a remainer brings up the value of the pound…

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