The GBP/USD pair surged by more than 1.5% to the highest level since February 25 as the market reflected on the rising house prices in the UK and the weak US dollar. It is trading at 1.4120, which is 3.3% above the lowest level since April 12. The UK economy is recovering at a faster rate than most analysts were expecting. The most recent data revealed that the economy’s unemployment rate declined to 4.9% in March. In contrast, the US unemployment rate rose from 5.9% in March to 6.1% in April. The UK housing sector has also been robust because of the relatively low interest rates and the stamp duty holiday by the ... (full story)