Apparently economic news flow is positive enough for the Pound bulls to regain control. Reports of aChinese bank reserve requirement easing move overnight, generally positive equity market action and littlecompetition from other currencies should leave the Pound as the dominating currency in the short term. ThePound might be temporarily undermined by US existing home sales, if they show a minor dip, but if the UShousing data is positive, that should usher in new highs for the move in the Pound. Support in the June Poundmoves up to 1.6779.
