Friday 29 May 2009

Word of the week: £££ Sterling

The hammered British Pound has caught a gust of air and is on the up reaching the value of $1.60 for the first time in over 6 months. Investors have been prompted to move away from the defensive US dollar once again, with growing optimism that the contraction in the UK economy is certainly slowing if not reversing. Growth is inhibited however by concerns over UK national debt, the prospect of higher taxes for years to come and a growing national penury - worsened by an indifference to saving given the recent unpredictability of financial institutions as a whole. Stabilisation may have arrived with recovery still a few bumps away.


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