British Pound May Rise Versus Dollar on Inflation, Jobs, CMC's Laidi Says

The pound may rise on faster-than- forecast inflation and lower jobless claims, CMC Markets said.

The pound is benefitting from “yesterday’s robust job figures and ongoing nervousness with above-target inflation,” Ashraf Laidi, chief market strategist at CMC in London, wrote today in an e-mailed note. A breach of $1.5380 will “make $1.5450 the next focal point,” he wrote.

Britain’s currency gained for a third day, rising 0.6 percent to $1.5358 as of 1:48 p.m. in London. The currency traded as high as $1.5366, the strongest since April 30.

To contact the reporter on this story: Lukanyo Mnyanda in London at lmnyanda@bloomberg.net

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