The Pound was temporarily undermined as a result of slack UK retail sales results but it has returned topositive ground into the US Friday trade. It is possible that talk of global stimulus programs from the G20 providedsome lift to the Pound but the Pound was also lifted by generally positive global equity market action. However,the Pound might see some fresh selling in the wake of this morning’s US existing home sales release and wearen’t sure that a risk on vibe is going to come into fully play and save the Pound from more near term correctiveaction.
