April 11, 2018 / 9:35 AM / a year ago

Sterling trade-weighted index hits highest since Brexit referendum vote

LONDON, April 11 (Reuters) - A central bank index of the British pound on a trade-weighted basis rose to its highest since the month of the Brexit referendum vote in June, 2016, data published on Wednesday showed.

A confluence of factors including growing expectations of a rate hike next month and a favorable transition deal secured by Prime Minister Theresa May last month has prompted investors to load up on the British currency in recent weeks, especially against a listless euro and a struggling dollar.

The sterling trade-weighted index rose to 80.43, its highest since June 30, 2016 and is up nearly 3 percent since early March.

A referendum to leave the European Union took place on June 23, 2016, sending sterling hurtling downwards. (Reporting by Saikat Chatterjee Editing by Tommy Wilkes)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below