We didn’t even need to look at a Pound chart this morning to know the currency was on the rise againas we saw generally higher equity prices, upbeat Japanese dialogue and signs that the BOE is trending toward raising rates leaves the Pound with one of the strongest stories in the currency markets. Unfortunately, the overallglobal economic outlook is still suspect and that could make it difficult for the Pound to rise above the early Mayhighs. In short, the bias is up but to see a fresh upside breakout in the Pound might require a risk-on vibe andpositive global growth views and those views are currently absent.
