Sterling hits four-month high against the US dollar

The pound has climbed to a four-month high against the US dollar, and the rate at present is in the top 1% of this year's range. Comments by George Soros, together with the recent bull rise on the FTSE, have driven the pound’s strength recently. Caxton FX Analyst David Clements says, "the market could continue to head higher due to increasing confidence in the UK economy, however last time it traded at these levels sterling fell to below $1.35 in less than two weeks."