GBP review

T-minus a week until the big vote and sterling somewhat defiantly found itself at a fresh two-month peak and a much lighter shade of red on the year against its downtrodden U.S. counterpart. 

Sterling made an earlier run at $1.55, a move largely spurred by the spring swoon in the greenback. Britain's big May 7 election is now a week away which augurs uncertainty and volatility for the foreseeable future. 

Still, the more backward steps the dollar takes, the better sterling should fare. The upturn in the pound has it in striking distance of its starting point for 2015 around $1.5570.