Economics
Pound Jumps as Court Brexit Ruling, BOE Deliver Double Boost
- Sterling climbs to highest in four weeks versus the dollar
- Brexit lawsuit sought to force government to hold MP vote
Flanders: I Would Caution on U.K. Economic Positivity
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After months of bad news for the pound, the currency got a double boost on Thursday, pushing it to a four-week high versus the dollar.
Sterling climbed against all of its 16 major peers as a U.K. court ruled the government must hold a vote in Parliament before starting the two-year countdown to Brexit, and the Bank of England said it’s no longer expecting to cut interest rates again this year. That ate into the pound’s 15 percent drop versus the dollar in 2016, the worst among major currencies.