The pound is now at a 26 year high against the dollar. At the moment £1 is worth $2.08. The strong pound is not good news for those of us who live in the States and travel regularly to the UK. Happily, we have already bought our plane tickets for Christmas, and paid for our hired car, but at this rate, shopping in England is going to be a very expensive business. Here's the BBC's article:
Pound powers past weaker dollar
The pound and euro strengthened their positions against the US dollar, with sterling once again rising to its highest levels since 1981.
The gains were fuelled by the Federal Reserve's decision to trim US interest rates for a second time in two months.
The pound rose to a 26-year high of $2.08, while the euro touched $1.45 - its highest point since its 1999 debut . . .