The British pound climbs more than $ 1.30 for the first time since November

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The pound rose from $ 1.30 for the first time since early November, continuous inflation in the UK and widespread weakening in the dollar.

The British pound rose above the level in early trading on Tuesday for the first time in the days after the United States elections. About 3 percent has increased so far this month, with the help of A. Decrease While investors are concerned that the trade war reached by President Donald Trump stops affected by the American economy. The pound later decreased to $ 1.297, a decrease of 0.2 percent a day, in the afternoon trading.

sterling The gains have set a reflection since January, when concerns about the expectations of public financial affairs in the United Kingdom have launched government bonds in the United Kingdom. Since then, the higher inflation than expected bets that the Bank of England will have been slower in reducing interest rates than previously thought.

“The pound is along the journey, as there are still financial concerns in the United Kingdom,” said Brad Bishtil, Global President of Jeffrez.

After reaching the highest level in the US elections for two years, where investors are betting that Trump’s tariff and other economic policies will enhance inflation, the dollar has decreased sharply since January, as investors focus more on possible economic damage to the wrong policies in the White House.

“He sends another reminder that the market participants are no longer confident that President Trump’s policies will enhance growth in the United States and strengthen the US dollar,” said Lee Hardman, MUFG, chief currency analyst at MUFG.

Craig Ings, head of price and criticism at Royal London Asset Management, said the power of the pound sterling was a mixture of “fear of slowing down in the United States, which leads to more discounts in the Federal Reserve” in exchange for an expected increase in inflation data in the UK, making it difficult for the Bank of England to reduce borrowing costs. In January, Inflation rose More than expected to 3 percent.

The Bank of England is widely expected to keep fixed interest rates at 4.5 percent at its meeting on Thursday. The levels in the exchange markets indicate that traders believe that the Bank of England and the Federal Reserve will make two additional discounts for this year this year, with the possibility of the Federal Reserve obtaining a third.

The bullish step comes to the British pound despite the Organization for Economic Cooperation and Development this week Reduce its growth expectations For the United Kingdom, as countries around the world are exposed to the repercussions of American definitions. Paris -based body is now expecting GDP growth in the UK for 2025 to be 1.4 percent, by reducing 0.3 percentage of its previous account.

But the pound has survived trade fears this year, as investors are betting that the UK is less exposed to definitions than some other economies.

Last week, UK Prime Minister Sir Kerr Starmer said he was “disappointed” from the latest US tariff for steel and aluminum, but the country will keep “all options on the table” in terms of responding to the American administration.