The pound hit its highest level in over seven months of Wednesday, as investors’ attention turned to the Bank of England’s quarterly ‘Super Thursday’ where it’s due to reveal its economic outlook, latest interest rate decision and publish minutes of the most recent policy meeting.
Sterling is still one of the worst performing major currencies over the last year, largely as a result of uncertainty unleashed by the Brexit vote, but it’s added more than 3 per cent against the US dollar since Theresa May last month said that she would be calling a general election – something which strategists said has the potential to strengthen her hand in Brexit negotiations.
On Thursday morning, the pound was trading around 0.4 per cent higher on the day, just short of the psychologically important $1.30 mark, before retreating slightly to end the day around $1.293.
