Tuesday, 27 October 2009

Sterling strength as confidence in the Pound still seems to remain high - recession or no recession! GBP EUR USD AUD NZD SEK CHF DKK

Yesterday's trading saw a surprise increase in the value of Sterling against a basket of major currencies as it seems that although we are still quite clearly in a recession investors still have confidence in the U.K

My personal opinion has been for a while that Sterling is undervalued and we have taken more of a hit than we should have during the global situation however things may dip once again before they get better.

This feeling may now be echoed by major investors hence the marked improvement in rates over the past 24 hours when economic data has been thin.


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