Pound Surges to Five-Month High Amid US Fiscal Concerns

The Pound to US Dollar exchange rate has reached its highest levels since mid-February, trading at around $1.3646 on Thursday.

This upward trajectory comes as the US Dollar faces pressure from concerns over the country's fiscal outlook and softer bets on the Federal Reserve's actions.

The milestone of America's national debt surpassing $40tn for the first time has reinforced concerns over the sustainability of its finances and the growing cost of servicing its debt.

The Pound (GBP) received modest support on Thursday, firming on the back of the Confederation of British Industry's (CBI) latest industrial trends orders index, which printed at -25 this month.