Slowing American jobs market lifts pound

The pound reached a seven-month high against the dollar and gold and bitcoin rose to record levels after cooling jobs and wages data in America fuelled expectations of an early cut to interest rates.

Figures from the US Bureau of Statistics showed that non-farm payrolls, a closely watched measure, had expanded by 275,000 jobs in February, beating forecasts of 200,000 and continuing a streak of strong employment gains ­despite higher borrowing costs hitting businesses and consumers.

The pound, which rose 0.4 per cent to $1.284 for its best weekly rise against the greenback — of 1.4 per cent — since ­November, has strengthened amid growing signs that the UK economy is recovering after it slipped into a tech­nical recession at the end of last

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