The fact that the pound has recovered strongly is testament to increasing optimism for a recovery in the UK economy and also recovery in the global markets.
| Sterling continues to drive higher |
|
Has sterling broken the back of recent USD and euro strength witnessed in the last 6 months? You cannot take this for granted as sterling remains a fragile entity. We witnessed this in last weeks sharp sell off in sterling amid the political furor. The fact that the pound has recovered strongly is testament to increasing optimism for a recovery in the UK economy and also recovery in the global markets.
|
|
BoE member Paul Fisher backed up the call for caution stating that policymakers should not be complacent and warns that there is a major downside risk to growth still evident. In my view sterling is not out of the woods yet and may still trip on a few branches but the worst is behind us.
|
|
No real data of note today- G8 are meeting in Lecce but no immediate impact is expected to fall into the markets.
|
|
|
Posted in The Market Club 
