Sterling hits an 8 month high against the USD
Pound sterling exchange rates have hit an 8th month high against the USD this morning hitting a high of 1.6065. The USD seems to weakening by the day at the moment hitting a 15 year low against the YEN and hitting parity with the CAD all on the back of growing speculation that the U.S. Federal Reserve will ease monetary policy next month.
There have been rumours that the same will happen in the UK which has resulted in the pound losing around 8 cents against the Euro recently. If the same happens with the USD we could see GBP-USD exchange rates hover over the 1.60 barrier for the next few weeks.
Historically the pound has always been around the 1.50-1.60 leveland we all got quite spoilt when the pound was trading with the US Dollar at above 1.90. Unfortunately I can not see the pound getting anywhere near those levels for a very long time and now seems to be a fantastic time to be buying the US Dollar if you have an up and coming currency requirement.
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