The Pound has started on a weaker track this morning despite stronger than expected 4th quarter GDPreadings released overnight. In fact, 2013 UK GDP was the strongest showing since 2007 and that combines withother positive UK data of late to give the Pound a macro-economic edge against most currencies. However, theDollar is seeing noted short covering buying and it also has the advantage of US tapering expectations, and thathas temporarily undermine the Pound. Near term downside targeting in the Pound is limited at 1.6472.
