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Rising to $1.4364 by today morning, the pound has hit its highest level against the dollar since the Brexit vote in June 2016 amid hopes that the UK and EU can avoid a hard Brexit and strike a deal.
In recent months, the currency has also been supported by expectations of a Bank of England interest rate hike.
The value of the pound fell sharply against both the dollar and euro after Britain decided to leave the EU. Sterling fell as low as $1.20 at the beginning of 2017, having traded at close to $1.50 prior to the vote.