U.K. inflation data helps pound rise

10/18, 12:31 PM (Source: TeleTrader.com)

Sterling hit levels against the dollar it last had on October 12 as it reached a daily high of $1.23 on Tuesday following a report that said inflation in the United Kingdom rose to a 22-month high in September.

The pound traded 0.75% higher compared to the greenback, changing hands for 1.2275 at 12:23 p.m. CET. Despite falling 7.41% in the past three months, the British currency gained 1.25% this week.

The euro lost 0.58% to go for 0.8976 against the pound and the franc fell 0.67% to 0.8245 against the currency, both at 12:26 p.m. CET.

Sterling was 0.73% in the green against the yen, trading for 127.502 at 12:17 p.m. CET.

Teletrader Newsroom / VP