Pound Surges Past $1.20 as Fresh Data Add to Dollar Slump
- UK currency hits strongest level in 3 months versus greenback
- Dollar slips on PPI data, reduced haven demand on China thaw
A cash register holds British pound banknotes and coins.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
The pound climbed to its strongest level in three months against the dollar, as fresh data added to evidence that the pace of price growth in the US may have peaked.
The UK currency jumped as much as 2.3% to $1.2028, breaching the psychologically important $1.20 level for the first time since mid-August. That took its advance to more than 4% this month.