Interest rates expected to rise for first time in over three years

Democrats will hold Congress but President Donald Trump still has the power to block their plans.

The pound has risen to its highest overall level since the Brexit referendum over a decade ago. Sterling has risen notably in recent weeks against the euro and the dollar, ahead of an expected rise in interest rates. The most-watched measure of the value of the British currency against a basket of 18 of the world's main currencies this week reached its joint highest level since the June 2016 referendum, according to Bank of England figures.

Americans are electing members of Congress, which is made up of the House of Representatives and the Senate. All 435 House seats are up for election. In the Senate, only 35 of 100 seats are being contested because senators serve six-year terms. This results tracker shows both the races being decided now and the 65 seats that are not up for election this year - 34 held by Democrats and 31 by Republicans. Elon Musk spent almost $450m (£334m) – more than anyone ever has in an election cycle – to back Republican political candidates in the US midterm races. It was not enough to keep Democrats from a resounding victory .

Gordon Brothers will meet Jonathan Reynolds on Wednesday as the investment firm faces scrutiny over Poundland.