Posted by Zeb BhamThe pound has been given a boost in foreign exchange trading markets, as it rose in value against the US dollar.Reuters has revealed how, late on Friday (October 14th), the UK currency increased its position to a one-month high of $1.5841 in comparison to the US money.At its strongest since mid-September, sterling was boosted by the fact the euro also recorded significant gains versus the dollar.The news source noted that a lack of economic data meant the pound was able to track the euro's movements.However, Peter Kinsella, currency strategist at Commerzbank, did not share a positive outlook, stating: "The combination of fiscal tightening and monetary looseness always ends up in a weaker currency."He said the economy is still difficult and the banking sector is "on its knees" at the current time.Earlier this month, the news wire told how sterling hit a 12-month low against the greenback.