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Pound advances as UK inflation accelerates

London - The pound advanced against the dollar after a report showed UK inflation accelerated more than economists forecast in April.

Sterling jumped as the Office for National Statistics said consumer prices rose 2.7% from a year earlier, the fastest pace since September 2013, before paring some of its gains.

The Bank of England boosted its inflation forecasts last week, largely attributing the increase to the sharp decline in sterling since the Britain’s European Union referendum.

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Rand - Dollar
18.87
+0.3%
Rand - Pound
23.85
+0.2%
Rand - Euro
20.38
+0.3%
Rand - Aus dollar
12.32
+0.2%
Rand - Yen
0.12
+0.3%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
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