London Underground strikes this week called off; pound hits six-month low against dollar – as it happened
RMT says planned strike action by over 3,000 members at London tube stations on Wednesday 4th and Friday 6th October will not go ahead.
King dollar" has returned to rule over the foreign exchange markets, says Marios Hadjikyriacos, senior investment analyst at XM, adding:
The world's reserve currency has staged a phenomenal rally in recent months, empowered by the stunning rise in US yields, solid economic fundamentals, safe haven flows, and the absence of any attractive alternatives.
The dollar's strength is set to compromise other countries efforts to bring down inflation as their weaker currencies in the face of the greenback's strength makes imports more expensive.
The pound has been sent reeling again to $1.207, the lowest levels since mid-March.
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