GBP review

Western Union notes: 

A trio of factors has formed quite a supporting cast for the pound which soared to seven-month highs against the dollar and fared even better on a broadly weighted basis, notching seven-year peaks. 

The pound has found durable support in renewed optimism in the U.K. economy. Retail sales topped forecasts today (+0.2% vs. forecast of zero), while wage growth this week proved the fastest in years. 

Greece's debt troubles have burnished the pound's safe haven allure, while a weaker greenback has also worked in the pound's favor. The pound has strengthened more than 9% since hitting 5-year lows against the dollar in April.