The pound rose as high as $1.2913, its highest since April 2022, and was last trading just shy of that level, up 0.37%. At Tuesday around lunch time, the rand was trading at R24.12 to the pound. It has now lost 19% of its value against the pound over the past year, compared to an 11% fall against the dollar. Tuesday data showed a key measure of British wages matched its highest growth rate on record, though the unemployment rate did rise unexpectedly. She said while those further rate rises were already in the price, Tuesday's data had reinforced such views.

Source: News 24 July 11, 2023 14:00 UTC