British Pound Finally Overvalued Against The USD

For five years the British Pound was undervalued (and sometimes significantly undervalued) against the US Dollar on a purchasing power parity basis. The pound sterling has finally had a sustained period (over two months) of being slightly overvalued against the Dollar. PPP trends tend to last for quite a while so this may be the start of a multi-year period of relative strength of the pound versus the dollar.