(Bloomberg) — The pound erased this year’s drop against the dollar, catching up with some Group-of-10 currencies that made the move months ago.The currency rose as much as 0.2% to $1.3267, extending gains after inflation in July was faster than anticipated. The rally, however, is mostly driven by the greenback’s drop. The Bloomberg Dollar Spot Index has fallen every month since the end of March.”The dollar is doing most of the heavy lifting for the pound,” said James Athey, a money manager at Aberdeen Standard Investments. “Sterling is still cheap as chips. Everyone has problems, most of them huge, but …read more
Source:: Yahoo Finance
