Correct me if I'm wrong, but in the last 10-15 years the dollar would seasonally dip to 1.35-1.40 against the British Pound, then go up to 1.80+?
That it dipped 2 cents does not seem such a big deal!?
This is a dip against the Euro, not the British Pound.
The British Pound is strong against the Euro. A few months ago the Euro and the dollar had parity practically.