The US dollar to pound sterling exchange rate is thus at 0.6186.
Ipek Ozkardeskaya at Swissquote Bank says strength in the pound euro exchange rate is today helping pound / dollar:
"The global risk-off helped GBP to recover to 1.6181 in Asia. Decent GBP-demand vs. EUR clearly helped. EURGBP hit 0.83403 for the first time since January 17th."
Today's data propels GBP/USD higher
After a lacklustre start for the pound sterling to US dollar exchange rate we see the pairing has moved higher over the course of the past half hour.
The only data of any note today was released at 09:30 and proved to be mixed. However, the positive move in the pound sterling to dollar rate suggests GBP bulls have taken a net positive from the outcome.
On the domestic data front money supply data has formed the main focus of the morning.
More money has been made available to the housing sector it has been shown.
The Mortgage Approvals released by the Bank of England came in at 62.226K, well above forecasts for 61.350K.
However, UK Net Lending to Individuals has actually fallen. Monthly lending figures show 1BN GBP of fresh credit was made last month, analysts had forecast 1.6BN.
Predictions for the pound vs US dollar
Turning to the technical outlook for the pound vs US dollar we suggest listening to what analyst Boris Schlossberg at BK Asset Management has to say as this will be a key week for sterling.
Watch his technical forecasts below:
Analyst Yuki Sakasai at Barclays says the possibility of a gradual US Dollar appreciation from here is likely:
"Beyond the near term, we expect relative growth and the monetary policy outlook to remain drivers of FX and for gradual USD appreciation in the medium term, as the Fed is likely to start tapering in December 2013.
"The September US employment report on Friday will be critical from this perspective.
"US job growth has moderated recently from earlier this year, but other labor market indicators such as initial jobless claims and the ISM employment index are showing improvement in labor market conditions."