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Pound jumps 1% versus dollar after improved UK services data

Pound down 2% against dollar after BoE rate hike
Source: Pixabay

The British pound rose more than one percent against the dollar Wednesday after data showed stronger than expected activity from the UK services sector.

Sterling climbed to $1.3346, buoyed also by a weaker dollar after disappointing US jobs figures reinforced expectations for a Federal Reserve interest rate cut this month.

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AFP

Agence France-Presse (AFP) is a French international news agency headquartered in Paris, France. Founded in 1835 as Havas, it is the world's oldest news agency.

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