What is Driving GBP higher and higher?!

There is no such BAD news for USD, neither any Good or Breakthrough news for GBP. Then what is deriving it just Higher and Higher???

QE3 had pretty much all to do with it since Aug 31

Exciting eh? Don't bother finding logic here. There are such monster runs a few times a year. Better not be in its way. They say an object in motion tends to remain in motion, so who knows how high it's gonna climb.

To answer your question, this time it's not £££ power, it's $$$ weakness. QE3, Bernanke and the printing press, inflating ourselves out of debt, rings a bell?

I think it's seen as a safe haven right now, perhaps wrongly, but when you consider the G4 currencies..

USA - QE Infinity driving down the dollar
Eurozone - Obvious risks there
Japan - High risk of BOJ intervention to de-value the Yen
United Kingdom - Have printed in the past, but no more stimulus is currently in the pipeline

So as usual it's all about relative strength

Jonny