Weekend predictions that the UK economy would accelerate in the months ahead has combined withsome positive global equity market action for a fresh new high in the Pound. Ideas that US growth will continue atan anemic pace and that China will see some minimally positive growth stats this week, leaves the Pound with abullish edge. Holding back the Pound is the threat of a rail workers strike and fears that Putin might push furtherinto the Ukraine because of sanctions Part II. The path of least resistance is up, but we don’t like the risk andreward of being long.
