News / Business by Press Association 19/09/2018, 5:13 pm FacebookTwitterWhatsAppEmail Send us a story Sign up to our Daily newsletter Sterling endured another rollercoaster session on Wednesday, with the British currency jumping after higher than forecast inflation and then plummeting on renewed Brexit fears. The pound was trading flat at 1.315 US dollars at the London close, having at one point surged to its highest level since July when it touched 1.321. It was buoyed by inflation growing more than expected last month as higher price tags for transport, theatre tickets and autumn clothing raised pressure on household finances. Figures from the Office for National Statistics (ONS) showed the Consumer Prices Index (CPI) rose to 2.7% in August, compared to 2.5% in July. However, British politics acted once again as the currency’s scourge, with Theresa May being told her widely reviled Brexit plans need to be “reworked” as time runs out to reach a deal with the European Union. European Council president Donald Tusk said major issues remain to be resolved, including avoiding a hard border in Ireland and the future trading relationship between Britain and the EU. David Madden, market analyst at CMC, said: “The respectable increase in demand… Read full this story
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