While UK economic data has been supportive this week, some traders are suggesting that the Poundhas already factored in strong data and the Pound might need to avoid economic drag from additive Russian sanctions to continue to climb above the 1.68 level. It is possible that favorable retail sales figures were partiallycountervailed by a 4 month low in mortgage approvals, as some traders say that +1.68 pricing is pricing forperfection. The trend is up but risk and reward of being long is declining, especially if Putin prompts another roundof sanctions.
