The Pound was able to claw out a minimal higher high this morning on the charts, but weak US equitymarket action and fear of hawkish dialogue from the Fed Chairman on Tuesday could temporarily put pressure onthe March Pound ahead. It does seem as if the Pound was caught flying too high around the late January highs,as the Pound valuation was inflated by rather robust UK and global growth views and the letdown from the USalone seems to have justified a large portion of the late January and early February slide in the Pound.
