Sterling reaches 12-month high versus the US dollar

Summary:

Last week UK stocks remained relatively flat, with the FTSE 100 index closing 0.3% lower. Sterling rose above $1.32, representing its highest level in over a year against the dollar. This increase was driven by rising expectations of an interest rate cut by the Federal Reserve ("Fed") next month. However, a stronger sterling added pressure to the FTSE 100, as many companies within the index generate a significant portion of their revenue globally...

Stocks featured:

JD Sports Fashion, Melrose Industries and Rightmove

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