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Good news if you're about to go on
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holiday, because the British pound just
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hit a four and a half year high against
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the dollar. And believe it or not, we
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might have Donald Trump to thank for it.
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Sterling is currently charging towards
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the $1.38 mark, the strongest it's been
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since mid-2021. But this isn't
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necessarily a great British success
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story. It's actually a dollar weakness
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story. President Trump has shrugged off
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the dollar falling to a four-year low,
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insisting that the currency was doing
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great. This has got the markets and
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economists worried that this is an
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intentional trade strategy to debase the
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currency. But it's left investors
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dumping their exposure to the greenback
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and fast. For us in the UK, it's a
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massive win if you're heading to Florida
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this year. Your money is going to go way
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further. But for markets, it's a sign
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that the US dollar's safe haven status
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is under serious pressure. So, is the
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pound going to continue its charge, or
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is the dollar just having a temporary
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meltdown? Let us know if you think the
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pound hits $1.40 next, and follow City
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A.M. for the latest from the markets.
