GBP review

The dollar's loss of buoyancy is a factor behind the pound's resurgence. Sterling weathered a sharper than expected slowdown in growth last quarter and went on to strengthen above $1.53, its strongest in more than seven weeks. 

Growth in Britain cooled more than expected to 0.3 percent in the first quarter which was half the speed of the fourth quarter's 0.6 percent rate. Forecasts called for growth to moderate a notch to 0.5 percent. 

With fundamentals seemingly on less solid ground, it can make for an even closer call to next week's national vote on May 7. Consequently, sterling doesn't appear out of the woods until next week's vote ends in conclusive fashion and with a tenable government.