Questions are however being asked as to whether or not this is a trend that can be sustained - just how high can Sterling go against the US Dollar?
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The Pound to Dollar exchange rate has been rising through the course of 2017 and those with the luxury of waiting for a better exchange rate have seen their patience pay off.
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The Pound to Dollar pair has been rising steadily over recent weeks, reaching a year’s high of 1.3161 last Thursday.
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The US Dollar just can’t seem to catch a break - ahead of the weekend the world’s largest currency is being sold courtesy of some less-than-stellar economic growth numbers.
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The US Dollar continues to bleed value on global foreign exchange markets with fresh slippage coming in the wake of the US Federal Reserve’s July policy meeting and subsequent briefing.
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One of the key events we have been watching in global FX over the past 24 hours is how the Dollar would react to the latest machinations of the US Congress.
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Dollar buyers will want to see Trump win as this would communicate that he does have the ability to pass legislation and the prospect of lower taxes and increased public spending becomes a reality …
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