US inflation was 7.1% in November, down from a 40-year high of 9.1% in June and just a small increase on October's price rises.
The pound can buy more dollars than at any point in the last six months after the US rate of inflation slowed to its lowest rate in nearly a year.A more valuable pound means importing goods - such as food and petrol - becomes less expensive. Lower import costs in turn can help bringThe rise in value, up from $1.22 this morning, follows the announcement of the lowest US inflation figures in nearly a year.
Official figures showed inflation rose 0.1% in November, lower than economists had expected and the smallest increase in nearly a year. For the year as a whole, up to last month, inflation rose 7.1%, a reduction from June when the US inflation stood at a 40-year high of 9.1%.
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