Not surprisingly, the Pound has ranged up on its charts in the wake of favorable UK CBI retail salesresults for February. With an extremely low economic activity bar seen on the global economic scene, positiveeconomic readings from the UK leaves the Pound with a near term edge. Unfortunately for the bull camp in thePound, US data might detract from the upward track in the Pound, as the UK economic outlook could betempered by softer than expected US data later this morning. In other words, seeing the Pound valued at 1.6750and higher probably requires global macro economic optimism, not just positive UK economic optimism.
