1.82 to 1.88 putting it almost the highest rate in a year. Is this due to the recent interest rate hike or the troubles in the Middle East or nothing to do with either of those two
A bit of both, together with a few other things, especially the US budget deficeit and trade defeicit.
and what are the chances of it remaining high.
Anyone who really knows the answer to that can make a fortune.
IMO the US dollar has further to fall against the basket of International currencies but also the pound will fall, but slower.
I would guess the pound/dollar will end up at about 2.2
But I am talking over the next few years not the next few weeks. And of course I might be totally wrong.