Pound hits highest value against dollar since Brexit vote

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In April, sterling strengthened to a 22 month high against the US dollar.

Since 27 March, the pound has appreciated by 1.8%, to close on 17 April at £1=$1.4322. Also over this period, the pound strengthened against the euro, increasing by 1.9% to close a £1=€1.1590 on 17 April.

This is the strongest sterling has been against the dollar since the EU referendum vote (23 June 2016). A stronger pound means imports (in dollar terms) are cheaper, but UK prices in the context of global exports (traded in dollars) will be less price competitive.

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Felicity Rusk, Trainee Analyst

Felicity.Rusk@ahdb.org.uk, 024 7647 8818