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Pound up as hopes of a Conservative deal with DUP rise

By Kalyeena Makortoff ·

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Talks: Theresa May

The pound started to recover yesterday, following high inflation data and hopes that Theresa May's Government would strike a successful deal with the DUP.

Sterling rose 0.5% to trade at 1.273 against the US dollar, after eight-week lows a day earlier in the wake of last week's inconclusive election.

But the stronger pound weighed on the FTSE 100, which ended the day down 11.43 points at 7,500.44.

Investors were reacting to higher-than-expected inflation figures, as well as signs that Mrs May was close to reaching a deal with the DUP.

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Talks: Theresa May