The UK pound on Wednesday soared to the highest level against the US dollar since the spring of 2018 in the wake of reports on a subdued inflation rate in the European country in 2020
MOSCOW (Pakistan Point News / Sputnik - 20th January, 2021) The UK pound on Wednesday soared to the highest level against the US Dollar since the spring of 2018 in the wake of reports on a subdued inflation rate in the European country in 2020.
As of 14:13 GMT, the UK pound exchange rate rose against the US dollar from $1.3628 to $1.3666 for tomorrow settlements. Earlier in the day, the UK Currency was trading at $1.3718, reaching the highest level since May 2018.
The UK currency rose after the release of statistics on the country's inflation rate. The UK inflation rate in December accelerated to 0.6, which is still rather low compared to the same period in the previous year despite economic difficulties due to the ongoing pandemic.
