Torrid week for cable as doubts over UK fundamentals gather
MARKET NEWS
Sterling’s recent performance provides a timely reminder of the perils of flying too close to the sun, says Steven Pearson, chief currency strategist at HBOS Treasury Services in London
Cable opened last week in robust form just below $1.57 -- within two cents of the recent cycle high -- but quickly began to fall. Tuesday (August 6) saw the sharpest one-day slide against the dollar in five years. Doubts over UK fundamentals, rumours of institutions re-entering international asset markets and
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