Pound climbs to second-highest level since Brexit vote – business live

Sterling rises above $1.43 ahead of key UK data this week, while rouble stabilises following steep drop earlier. Markets tense after western air strikes on Syria and ahead of anticipated new US sanctions against Russia

Since Trump became president in January 2017, the dollar has weakened substantially against most major currencies, including China’s yuan and, until the US sanctions against Russia in the last few weeks, the rouble.

Against the yuan, the dollar has fallen 8.6% since 20 January 2017, Reuters data show. It has risen 4.5% against the rouble, although it was down 4% against the Russian currency until new US sanctions on seven Russian oligarchs were announced 1 1/2 weeks ago.

Back to currencies. US president Donald Trump has tweeted

Russia and China are playing the Currency Devaluation game as the U.S. keeps raising interest rates. Not acceptable!

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From our friends over at the : Economy | The Guardian

 

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