The British Pound Sterling has improved against the euro and hit a 13-month high against the US dollar.

On Thursday, the pound was at $1.31 against the dollar and €1.18 against the euro.

Equivalent private-sector surveys showed that Germany has suffered another economic downturn.

It is expected that the US will cut interest rates in September, and Germany’s struggles mean the European Central Bank could do the same.

Francesco Pesole at ING said: “The surveys have been a testament to the…