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As we move towards the end of August and us Brits start preparing ourselves for winter (due any minute now), we can start to reflect on what has thus far been a fairly mixed month for the pound.
Against the dollar, August seemed to be going swimmingly for the pound: it seemed to be continuing the recovery that started in mid-May, following the end of July’s strong form. However, the metaphorically speaking, the car of the GBP had changed (more…)
Smashing through the doubts of a fortnight ago, the Pound crashed through U.S. Dollar this morning, hitting a massive $1.5447 – the highest it has been for three months! The Euro fared no better against Sterling either, as the Pound shot up to €1.194, marking a truly fantastic rise in strength for the British currency.
Despite concerns about the Pound suffering under a coalition government, the Bank Holiday weekend has seen the UK currency strengthen against the Euro and both the U.S and Australian Dollars, as well the rest of the world’s most traded currencies. After the recent stabilisation of the stock market, the strengthening of the Poud is considered partly due to investors being willing and able to take more risks.
