Skip to content
Subscriber Only

Pound Climbs Most Since April as Jobs Data Adds to Optimism

  • Currency touches strongest level since Brexit referendum
  • Ten-year gilt yields rise to highest level since October
An engraving showing the headquarters of the Bank of England is seen on a British twenty pound banknote, in this arranged photograph in London, U.K., on Thursday, Oct. 13, 2016. The U.K. currency is getting harder to trade, and to predict, because the nation’s exit from the European Union has changed the rules of engagement.
An engraving showing the headquarters of the Bank of England is seen on a British twenty pound banknote, in this arranged photograph in London, U.K., on Thursday, Oct. 13, 2016. The U.K. currency is getting harder to trade, and to predict, because the nation’s exit from the European Union has changed the rules of engagement.Photographer: Miles Willis/Bloomberg
Updated on

The pound rallied the most since April as hopes for a soft Brexit and stronger-than-forecast labor-market data bolstered the currency against a weaker dollar.

Sterling headed above $1.42 and climbed against all major peers, as signs that Britain may stay close to European Union rules after leaving the bloc helped the currency extend gains made on the back of strong U.K. jobs figures. The pound has also benefited from broad dollar weakness, with the British currency advancing nearly 3 percent this week as market positioning becomes increasingly bullish.