Currencies: Yen back above ¥100 on Fed’s cautious stance over rate hikes

The pound moved sharply higher on Thursday after U.K. retail sales came in much better than expected, easing fears the Brexit vote is slowing the country’s economy.

Sterling GBPUSD, +0.8588% jumped to as high as $1.3175, up from $1.3042 late Wednesday in New York, trading around its strongest level in two weeks. Against the euro, the pound GBPEUR, +0.5888% rallied to €1.1634, compared with €1.1552 on Wednesday.

Investors are “enticed towards purchasing the pound following another indication that the EU referendum outcome is not having a negative impact on the U.K. economy,” said Jameel Ahmad, market analyst at FXTM, in a note.

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