The GBP/USD exchange rate jumped to the highest level since September last year, continuing an uptrend that started in November last year when it bottomed at 1.3017.

With a 4.4% increase in economic growth in the third quarter and expectations that it could be higher in the fourth quarter, the so-called reflation narrative appears primed to dash out of the gates in 2026 at its current strong pace.

Economic Policy Uncertainty spiked on Sunday.

Suspected intervention to sell USD/JPY, plus US authorities reportedly getting involved, has prompted a near 3.5% drop since Friday morning.