Pound (GBP USD) Surges Past $1.20 as Fresh Data Adds to Dollar Slump

The pound climbed to its strongest level in three months against the dollar, as fresh data added to evidence that the pace of price growth in the US may have peaked.

The UK currency jumped as much as 2.3% to $1.2028, breaching the psychologically important $1.20 level for the first time since mid-August. That took its advance to more than 4% this month.  

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