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Review: Pound reaches a 3-week high as British inflation soars above the target

The sterling added 0.8% on Tuesday to its highest level in three weeks, after British inflation last month jumped above the Bank of England's 2 percent target for the first time since late 2013.

The pound, which had already been climbing up 0.4% at $1.2416, grew to $1.2462 after the publication of the official data.

Consumer prices rose by 2.3% in annual terms amid expectations of 2.1%, the Office for National Statistics reported.

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