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Pound rises to its highest level since the Brexit referendum

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Core Development: Pound rises to its highest level since the Brexit referendum
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Market & Financial Impact: Pound reaches highest level against a basket of currencies since the Brexit referendum a decade ago
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Actionable Insight: Monitor price volume action at market open; check key technical support/resistance levels.

The pound has risen to its highest overall level since the Brexit referendum over a decade ago.

Sterling has risen notably in recent weeks against the euro and the dollar, ahead of an expected rise in interest rates.

The most-watched measure of the value of the British currency against a basket of 18 of the world's main currencies this week reached its joint highest level since the June 2016 referendum, according to Bank of England figures.

The value reached 86.4 on an index where 100 equals the value in 2005. The Bank will officially confirm the calculation on Thursday.

The value of sterling fell significantly after the Brexit referendum in June 2016, and reached further lows during the Brexit process, the Covid pandemic and the 2022 mini-Budget.

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Official Publisher Attribution: This report is aggregated from Bloomberg. ZeroLive provides live aggregation, automated sentiment synthesis, and exchange disclosure monitoring for retail market participants.
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