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Realistbear

Good Inflation News Sends Pound To Recent Record Highs Vs. Euro And Dollar

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http://uk.finance.yahoo.com/news/Sterling-inflation-data-targetukfocus-1826376582.html?x=0

Sterling up as inflation data boosts rate hike
talk
13:26, Tuesday 15 February 2011
* Pound advances on expectations interest rates will rise
* Data, King's letter suggest higher inflation near term
* Sterling index at 5-mth high, euro/pound at four-week lows
(Updates with sterling index)
1 GBP = $1.61594 Euro: 1.19428
GBP to JPY 135.2481 +1.7288
GBP to TRY 2.5705 +0.0119
GBP to THB 49.5635 +0.2334
LONDON, Feb 15 (
Reuters
) - Sterling rose on Tuesday after data showed UK inflation remaining stubbornly high, fuelling speculation that interest rates will rise in the near term as the Bank of England seeks to contain price pressures.

1. As the headline says its "talk."

2. When a currency rises due to whjat is, by any account, bad news for the economy a sharp fall must be in the wings.

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Penfold won't be happy as I suspect he would like to see it trading around 1.50 - so expect to see him pop up to talk it down soon.

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Penfold won't be happy as I suspect he would like to see it trading around 1.50 - so expect to see him pop up to talk it down soon.

IMO, Sterling should trade at around 1.40 to the $. It will do so when 2 things happen:

1. Large job losses

2. Crashing housing market.

Neither have happened yet.

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  • 309 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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