Newsstand - Pound breaks through $2

British holidaymakers to the US received a boost today as the prospect of a fresh rise in interest rates from the Bank of England pushed the pound through the $2-level.

Amid City speculation that Threadneedle Street's monetary policy committee will push the bank rate to 5.75% when it meets next month, sterling briefly hit $2.0006 in early trading.

Some analysts said the pound was likely to come under further upward pressure over the coming weeks and would test the 26-year-high of $2.0133 hit in April.
http://business.guardian.co.uk/economy/story/0,,2111002,00.html

Since it also happened in April, this is odd "news."

NEW YORK (AP) -- The dollar fell to a 26-year low against the British pound Monday ahead of an expected rate hike by the Bank of England later this week.
The pound rose to $2.0173 -- its highest level versus the dollar since June 1981 -- in New York trading before retreating to $2.0165. The dollar also dropped to within a cent of its all-time low versus the euro, as rising global interest rates made the currency less attractive to investors.

The 13-nation euro rose to $1.3637, just shy of its April 27 all-time high of $1.3682, before dipping back to $1.3623.

NEW YORK (AP) -- The dollar fell to a 26-year low against the British pound Monday ahead of an expected rate hike by the Bank of England later this week.
The pound rose to $2.0173 -- its highest level versus the dollar since June 1981 -- in New York trading before retreating to $2.0165. The dollar also dropped to within a cent of its all-time low versus the euro, as rising global interest rates made the currency less attractive to investors.

The 13-nation euro rose to $1.3637, just shy of its April 27 all-time high of $1.3682, before dipping back to $1.3623.

Good for my foreign stock funds. Bad for when I spend Euros and GBP.