After a steady rise during the past four months, the British pound has risen to 1.40 against the American dollar. Does anyone except the Bank of England care?
Sure...Anybody playing the currency markets. Hypothetically, it should make it easier for Brits to buy goods originating in the US, while making it relatviely more expensive for Americans to buy UK goods and services. Still, a dollar forty to a pound sounds fairly good. When I was in the UK the first time, in 1980, the going rate was around $2.10 per pound (Sterling, as it was called then).