Sterling hits the highest level since Brexit

Sterling has leaped to its highest level in past 19 months against the US dollar since the Brexit vote, to $1.37  highest level since 254 June 2016. Before the result of the referendum, the Pound had been trading at $1.50.

Sterling is benefiting from the dollar weakness and the growing euro strength rather any pound specific factors. Customer slowdown as inflation erodes spending power which reflected in poor Christmas trading. With Spain and Netherlands reportedly looking to strike a soft Brexit deal with the UK and Brent crude surpassed over $70 per barrel.