Actually, there was an economist on the TV last night suggesting it could go as high as $1.12 - $1.13US.

And the thinking at the moment is that it's not going to drop anytime soon (at least not for the next 6 months). Let's face it, the US is an economic basket case and according to
what I've read may be about to have its national debt exceed GDP! (Although there is conjecture about how that debt is calculated, but it sounds bad to be even talking about it).
And as far as the Pound is concerned, the UK is not faring much better - so hurrah for us.
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