Renewed Hike Hopes Lift Pound To One Year High Against Dollar As Rising Inflation Tightens The Squeeze On UK Households

This is source I found from another site, main source you can find in last paragraph

Against a basket of the leading global currencies, however, the pound’s 0.9pc jump could only take it to its best level in a month, highlighting the dollar’s own decline of late.

Blue-chip exporters faced an uphill struggle in London against a resurgent pound weakening its earnings potential with the overall

FTSE 100 closing 12.90 points lower at 7400.69.

Costa Coffee owner

Whitbread pared heavy early losses to nudge down only 15p to £37.61 after Citi “debunked” the UK coffee growth myth, double-downgrading the stock to “sell” from “buy”.

Just four to five years of structural growth remain in the branded UK coffee market and Costa stores are facing very high levels of competition, Citi told clients.

Housebuilders retreated across the board after

Redrow chairman Steve Morgan stoked fears that the sector had reached its peak by selling a large stake in the company, pulling it down 52.5p to 580p.

Analysts were quick to highlight that factors underpinning recent growth look set to continue but the sale coming just days after Berkeley directors also cashed in prompted jittery investors to dump housebuilders with

Barratt Developments sinking 10p to 596p and

Persimmon dropping 52p to £25.03.

Precious metal producers

Fresnillo and

Randgold Resources, whose share price is wedded to the price of gold, sunk 37p to £15.70 and 235p to £77.65 as the continued rebound of risk appetite pulled down gold prices.

This is source I found from another site, main source you can find in last paragraph

Source : http://www.telegraph.co.uk/business/2017/09/12/pound-jumps-132-against-dollar-ahead-key-uk-inflation-figures/

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