Sterling gains as focus falls on pace of US rate hikes

Sterling yesterday rose to its highest point since September as weak inflation data in the US weighed on the dollar, while traders are increasingly betting on higher

Sterling, which crossed $1.30 and rose against all of its major peers yesterday, has largely defied signs that the UK economy is slowing, with some Bank of England policymakers calling for higher rates.

Prospects of another US Federal Reserve hike meanwhile have fallen this week,