The GBP had suffered a fairly substantial correction downwards, but has staged a small recovery, over the last week or so. Inflationary pressures remain strong in the UK, boosting the likelihood of further interest rate rises, from the Bank of England. This will lend further support for the GBP, over the short term, and downward pressure on the cross-rate.
Current Level: .4709
Last week’s range:.4685 – .4720