Pound Dollar exchange rate: Sterling cracks $1.30 mark for the first time since September

The pound cracked the $1.30 mark for the first time in almost eight months on Thursday, after figures showed that more shoppers hit the high street in April helping retail sales to rebound strongly.

Immediately after the data was released, the pound added around 0.5 per cent to trade at $1.3036, breaking through the psychologically important $1.30 mark for the first time since 30 September.

 Retail sales jumped by 2.3 per cent in April, against forecasts of a 1 per cent increase after they fell 1.8 per cent in March.

The pound’s strength against the dollar has been accentuated by weakness

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