Pound jumps as UK producer prices surge

The pound was languishing around $1.9450 when I switched the computer on this morning. I took my eyes off the screen for literally a couple minutes & the screen was reading $1.9580.

A government report released at 9.30am revealed that UK producer prices last month climbed at the fastest annual pace since at least 1986.

Prices charged by factories increased 7.5 percent from a year earlier, the most since records began two decades ago, the Office for National Statistics said. On the month, prices increased 1.4 percent, also the fastest pace on record.

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