Political upheaval helps pound end week almost 3% higher against US dollar – its best performance since October 2009
Speculation that the UK could avoid a hard Brexit from the European Union, and fears that Donald Trump might snatch a last-minute victory in the race for the White House, have helped sterling register its biggest weekly gain against the US dollar in seven years.
The pound’s respite from its recent heavy falls on the foreign exchanges continued on Friday when it put on a cent against the US currency to trade at $1.2558 – its highest level for four weeks.