Today we saw the British Pound sour above the 2.0000 level marking a breakthrough of a major psychological barrier. I have to admit that over the past several months I have cheated on my favorite currency pair in lieu of the Euro and Yen. I have to take a moment to reflect while the Pound sits at levels it has not seen in 15 years.
What does this really mean?
Has Sarbox regulatory constraints contributed to the raise of cable?
Has geo-political events ushered in a long term change against the USD?
Or has the change in central bank reserves been good for the pound?
Nah! What this really means is that it is now easy math for us Americans traveling to the UK. A pint of beer in the pub costing £3 can easily be converted to $6. Sweeeet!!
And easy math is this traveler's dream!
Happy Trading!!
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