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Pound Leads Gains Among G-10 Currencies on U.K. Inflation Boost

  • Recent U.K. data has proved resilient after the Brexit vote
  • Sterling gains ‘limited’ by concerns on Brexit trigger: Mizuho

The pound strengthened the most among Group-of-10 currencies after data showed U.K. inflation accelerated to the fastest pace in more than two years.

Sterling, which has seen a gradual move higher since the flash crash on Oct. 7, is still one of the worst performers in the past six months, a period that encompasses the slide after Britain’s shock decision to leave the European Union. While the currency dropped to its lowest level in three decades after the Brexit vote, economic data have proven resilient and lent support since then.