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Pound spikes to one-month high after rate rise signal

Jun 29, 2017, 8:14 AM EDT
Bank of England Governor Mark Carney
(Source: Bank of England/flickr)

The pound surged against the dollar on Thursday to reach $1.30 mark as expectations of an interest rate hike grew stronger after Bank of England Governor Mark Carney acknowledged that the calls for an immediate interest rise have been gaining momentum.

Currently, the pound is trading 0.3 percent higher against the dollar at $1.2963, writes The Guardian.

This is the first time the pound has approached $1.30 since the general election and a part of credit goes to a weakening dollar courtesy of the U.S. President Donald Trump’s latest healthcare reform setback, notes Express.