The British Pound Sterling is currently experiencing eight-week highs and is poised to soar even higher against the US dollar in the days ahead.
The GBP is currently exchanging at £1 is to $1.27 as it continues to soar after crashing to a fresh yearly low in October, Express.co.uk reports.
Sterling’s strengthening position against the US dollar has coincided with a rise against the euro – which has taken a hit in the fallout from the Italian referendum.
The currency has dropped to its lowest level since March 2015 and sterling is reaping the benefits. This morning the exchange rate sat at £1 is to €1.20, sterling’s highest level since July.
November has been a positive month for the strengthening value of the pound, after it reached a historic low earlier this year.
Last week sterling was boosted after Brexit secretary David Davis announced the UK government would be willing to pay the EU to retain access to the single market.
