The Pound is a little off balance today because of negative global equity market action and because ofsofter than expected UK construction activity. As suggested earlier this week, the Pound at 1.6750 seems tofactor in positive forward movement in the global economy. Fortunately for the bulls in the Pound, US claims datayesterday provided some evidence that the world’s largest economy is trying to claw out from under the winterweather drag. We can’t argue against more gains in the Pound, but longs might consider tightening profit stops.
