The Pound forged an inside range early today, with prices gradually sliding down and away from theMonday highs. With the Pound supposedly falling back in the wake of “slower growth” in home prices for March, itis clear the Pound has a “high-bar” for UK growth. We still think that the Pound is a pro-growth/recovery currencythat needs broad based global macro-economic optimism to return to and above the 1.68 level. Aggressivetraders should look to buy the June Pound on a near term setback to 1.6590.
