U.K. Pound Advances on Week, Rallying to the Highest Since Thatcher Ruled

(Bloomberg) -- The pound pushed through the $2 mark this week to reach its highest since June 1981 when Margaret Thatcher was British prime minister.

The U.K. currency soared after a report showed inflation accelerated at its fastest pace in a decade, fueling speculation the Bank of England will lift interest rates two more times this year. The last time the pound reached $2 was in September 1992 when George Soros and other speculators forced it out of the European system of linked exchanged rates.


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