British pound rises, Labour conference begins

This is a U.S. news story, published by CNBC, that relates primarily to Andrew Bailey news.

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British pound

CNBC

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A stunning sterling rally is about to collide with Britain's political realities

Summary

Nutrition label

86% Informative

The British pound has jumped to its highest level against the U.S. dollar in two-and-a-half years .

Sterling breached $ 1.33 against the greenback for the first time since March 2022 on Thursday .

Labour kicks off its annual party conference on Monday , its first in power for 15 years , as its leadership seeks to push past a recent controversy over donations.

Bank of England Governor Andrew Bailey has denied that public sector pay rises are a major driver of inflation.

But policymakers will be monitoring Labour 's awarding of "bumper" increases.

Millions of public sector workers including teachers and doctors are set to receive above-inflation pay rises.

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language