It's on it's way back down at the moment and that would seem to correlate with the movements in the Stock market. I doubt it will go a lot higher this year unless the UK see's lots of additional good economic news, right now when the Peso is strengthening so is the Yen and vice versa which makes me think it is the raw value of the pound that is changing here, it's not additional weakness in foreign currencies. If the Fed continues to roll back QE then we will probably see some further weakness in Asian currencies but I think most of it has been priced in already, I think at some point we might see as high as 80 but not much higher as something will come out of the UK woodwork to kick us in the teeth again.
The rate was 74.8 at HSBC here on Friday. The Central Bank is keeping the Peso at around the 40-45 mark to the US Dollar - which it is, just at 44.98 - but if the value of the Peso continues dropping, there will be an adjustment. That would mean that unless Sterling rises against the US Dollar, we won't see much more than about 75 Pesos to the Pound.
I saw for a short while today slightly greater than 75.4 on XE Probably driven by simple strength of the pound.
