Can you cash in on strengthening pound?

Niall Carson/PA Archive/Press Association Images

The pound has been slowly gaining ground against the Euro, and last night reached €1.23. It's the highest point in two years. While this is clearly a long way short of historic highs, the fact it has rallied a little makes it worth asking whether a rising pound is a positive or a negative thing.

So why has it happened, and can we cash in?