The Pound looks to have won by default overnight. While UK CPI, PPI and RPI readings were justbarely above unchanged, compared to the weaker German inflation readings, the UK economy is holding amacro-economic and interest rate differential edge. If overall global economic sentiment improves slightly in thedays ahead that could facilitate some modest hard fought gains in the Pound. Initial support moves up to 1.6799and the top of the near term up trend channel might not present resistance until the 1.6880 level.
