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MARKETS LIVE BLOG:

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Pound hits highest level since Brexit vote as the global elite gathers in Davos

Tom Rees
Updated
The four-day World Economic Forum kicks off today - AFP
The four-day World Economic Forum kicks off today - AFP

  • Pound hits highest level against the dollar since the Brexit vote

  • Sterling touches over $1.40 for the first time in 19 months and is now higher than some pre-Brexit vote levels

  • Sterling surges on renewed optimism on Brexit after French President Emmanuel Macron boosted hopes of a bespoke trade deal for the UK

  • Political and business elite gather in Davos for the World Economic Forum

  • Theresa May, Mark Carney and Donald Trump all appearing at the four-day summit

8:19AM

Agenda: Pound hits highest level since Brexit vote as the global elite gathers in Davos

world
The World Economic Forum at Davos kicks off this morning

Welcome to our live blog coverage of the World Economic Forum at Davos in Switzerland.

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For four days and nights, the great and good from the worlds of business, economics and politics are gathering in the Alps for speeches, behind-closed-doors meetings and secretive drinks parties.

With Theresa May, Mark Carney and Donald Trump just a few of the heavy hitters appearing at this year’s summit, we’ll be covering every minute of it here and we’ve parachuted in four of our team to get the latest from the ground.

On the markets this morning, the pound has touched above $1.40 against the dollar for the first time since the Brexit vote and is on course for its sixth consecutive weekly gain against the greenback, a feat it has not achieved since 2012. 

Traders are pinning sterling's surge on renewed optimism on Brexit after French President Emmanuel Macron boosted hopes of a bespoke trade deal for the UK over the weekend.