Why the Writing Is On the Wall for Sterling ; (1) Investment Extra (2) City & Finance
Daily Mail › December 13, 2008
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Summary
BRITAIN'S headlong dive into a deep recession, coupled with tumbling interest rates and a ballooning current account deficit, have forced the pound to depressed levels against the world's major currencies.
Could anyone have predicted this confluence of events would have had such a radical impact on sterling, which has declined more than 25pc against the dollar since the summer? Well technical analysts who study price and volatility charts rather than the fundamentals driving the currency will say the writing was on the wall when the pound broke out of a steady and predictable trading range against the greenback in early August.See the full content of this document
Extract
Why the Writing Is On the Wall for Sterling ; (1) Investment Extra (2) City & Finance
David Byrne, of Intermarket Analysis, who has been following the ups and downs of the money markets for more than two decades now, reckons there was an inevitability about the pound's collapse. And he warns there won't be a quick rebound..
What happened? STERLI...See the full content of this document
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