Pound hits 26-year high against dollar

Yesterday, the pound broke through the $2 barrier for the first time since 1992 on the news of record high inflation in March. And that trend has continued today with the pound earlier hitting $2.013, its highest level since 1981. Analysts predict further interest rate rises to slow inflation after the office for national Statistics yesterday said consumer prices rose by 3.1% in March and the retail price inflation rate rose to 4.8%. The figures cemented expectations more interest rate rises beyond the current 5.25% are in store and helped to strengthen the pound against a floundering do...