Politics: Pound rises to highest level since Brexit vote in huge boost of confidence before we leave the EU

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THE POUND has risen to the highest level against the dollar since the Brexit vote – in a huge vote of confidence for Britain as we enter trade talks within weeks.

It’s the seventh time in a row our currency has seen a boost against the US.

The pound has seen a rise to the highest level against the dollar today since the Brexit vote

Among the G10 nations, the pound is the strongest growing currency this year, and now stands at $1.43, smashing a previous peak seen in January.

Following our historic vote to leave the EU in June 2016, the pound took a tumble.

But it wasn’t all bad news as it meant that UK exports were cheaper around the world, and helped to drive up sales for businesses who traded overseas.

Investors has said that the recent strong run was down to the UK raising interest rates, and the looming trade war speared by the US.

The pound has been buoyant after a spate of good news

Donald Trump has slapped tariffs on a number of goods last month – but allies of the US have managed to gain exceptions.

Last November the Bank of England hiked rates from 0.25 per cent to 0.5 per cent, and there are signs that another hike could be on the cards again soon – possibly as soon as May.

The pound’s recovery will be good for Brits set to jet off on holiday within the coming weeks.

Trump’s tariffs may have caused the dollar to fall

Strong wage growth and unemployment data out this morning are also expected to keep the pound stable today.

Brits’ average pay packets grew by 2.8 per cent again last month, and employment hit another record high at 32.26million.

As Theresa May and David Davis gear up to start trade talks with the EU within weeks, this news will give Britain a confidence boost.

PM Theresa May promises more money for NHS and schools after Brexit

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