The pound is at its strongest level against the dollar in years. Is now a good time to convert or hold?
GBP/USD is sitting near 1.36, close to the year's high. The Bank of England is at 3.75 percent. The Federal Reserve is at 3.50 to 3.75 percent. The rate advantage the dollar held for two years has basically disappeared. 25 major banks have a median forecast of 1.33 for the end of Q3 and 1.34 for Q4, which implies a slight pullback from current levels before a gradual rise toward 1.39 by late 2027. For anyone converting pounds to dollars or dollars to pounds, this is the most relevant question in forex right now. But here is what most people miss: when the pound is this strong against the dollar it usually also means the dollar is weak. And when the dollar is weak, crypto historically rallies. Bitcoin just had its best week since 2024. Do you factor forex into your crypto strategy or do you treat them as completely separate?
