I read on Telegraph.co.uk that Sterling has reached $2.05. How amazing!!! Great value for the UK consumer. But the problem is, it's an unsustainable level. By no stretch of the imagination is Sterling worth anything like $2. The purchasing power parity suggests something more like $1.30 - taxes included.
My advice is to enjoy it while it lasts. The Dollar is weak. The pound isn't strong. And eventually the markets will correct the valuation.
