Caution Urged for Investors as Data Pushes Pound Higher
The pound jumped to its highest level in more than seven weeks versus the dollar as services became the latest part of the economy to show a bounce back after the Britain’s vote to leave the European Union. Sterling advanced for a fifth day versus the euro, its longest winning run since June 21, after a report showed a gauge of U.K. services increased the most on record in August. The pound has climbed versus all except one of its 31 major counterparts in the past week after a series of reports showed the initial disruption from the June 23 referendum may not be as severe as some economists predicted. Rabobank Senior Foreign-Exchange Strategist Jane Foley discusses with Anna Edwards and Manus Cranny on "Bloomberg Surveillance."