Here are the top headlines in the world of forex trading today:

The pound had its best day in months as it jumped above 1.51 from 1.4925 at the start of US trading. There was no definitive catalyst for the GBP/USD rally but a number of ideas circulated. It was a straight shot from 1.4945 to 1.5025 and then a second round of buying extended to 1.5119 before it ebbed to 1.5083.

The euro caught traders in a whipsaw is it took out yesterday’s low of 1.2923 only to be propped up by options-related buying ahead of 1.2900. From there, it reversed to the highs of the day at 1.3033.

USD/CAD fell to the lowest since late February. The Canadian housing numbers were slightly lower but the improvement in the US takes away some of the tail risks for the home sales market. Last at 1.0223.

AUD/USD poked above 1.04 alongside the general ‘sell the dollar’ theme. The more important level may be 1.0375 and it will be key to watch if the Aussie can close above.