The Pound has seen favorable economic news overnight from the UK employment front, as joblessclaims fell by 34,600 and earnings growth accelerated. It should also be noted that the MPC voted unanimously infavor of leaving rates unchanged in the March meeting. Pushed into the market we favor the downside in thePound, as news of a US tapering and residual Chinese and Ukraine fears should leave the Pound in the weakdown trend pattern that has generally been in force since the March 10th washout.
