Pound hits highest level against dollar for a year

The pound hit its highest level against the dollar in a year on Wednesday as investors bet on UK interest rates staying higher for longer.Fresh data on Wednesday showed the rate of inflation was proving more stubborn than expected by some analysts.This prompted traders to cut bets on an easing of rates in August, and sent the pound above $1.30 for the first time since last July.The pound has also been boosted by…