Pound rises to highest level in one year

The British pound rose around 0.9% against the dollar on Tuesday and hit 1.3283, the highest level since September 13 of last year. The increase of the UK currency followed inflation reports of the Office for National Statistics.

The releases said that the consumer price index and the producer price index rose on annual basis 2.9% and 3.4%, respectively.

Sterling rose 0.67% to go for 1.3253 at 11:21 pm CET. At the same time, the pound was 0.68% in the green against the euro, buying 1.1087.

Baha Breaking News (BBN) / DN