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Sterling surges above $1.42 after new employment record

Sterling today hit a new post-Brexit high after government labour market figures showed employment hitting a record high and more US dollar weakness.

The pound rose by more than two cents against the US dollar over the course of the day, a gain of more than 1.5 per cent.

The dollar has also come under pressure after US Treasury secretary Steve Mnuchin said a weaker greenback is better for the US economy.

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