Markets

Sterling surges along with dollar after US data

Published February 26, 2015 Updated February 26, 2015 03:32pm

1 min

By Shoaib Ur Rehman

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LONDON: Sterling jumped to a more than 7-year high of 72.705 pence per euro on Thursday, pulled higher along with the dollar after durable goods sales data bolstered the case for a rise in US interest rates.

The pound has been helped by UK government bond yields that dwarf those in top-rated European economies including Germany, and has tended to rise with the dollar as expectations for a rise in US interest rates solidify.

It traded more than half a percent higher on the day against the euro at 72.74 pence by 1406 GMT.

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