The UK isn’t winning the medal count in Sochi but the British pound won the week in the FX market. Sterling lapped the field, gaining more than 2% this week on the US dollar (which was the laggard) no other currency gained even a full percentage point against the buck.
The next challenge starts early next week as GBP/USD flirts with the 2011 high of 1.6747. The next target is the 2009 high of 1.7043 and after that it could be the start of something special.
GBPUSD weekly
