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GBP/USD lifts to new high on the week above 1.2410

Since the EUR/USD rose above 1.07 earlier this afternoon, that helped to drag the GBP/USD higher with it. However, the pound was lagging in dollar terms, but not anymore. The GBP/USD has now managed to punch its way above the 1.2410 high seen yesterday. The move has extended to as high as 1.2420 as I write this update. The rise in the GBP/USD also seems part of a wider relapse in the dollar index, with focus on the European currencies just now 
 

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