Sterling Digest: March 20, 2012

10 pounds down the drain

Down drain into a pile of money

The new trading week may have opened with GBP bullishness but as the Monday session ended sterling slipped across the board into Tuesday’s UK inflation release. Expect GBP to weaken further on softer-than-expected inflation even though it is certainly a good thing for the British economy. Don’t expect much follow through on weakness. Sterling may look weak on fundamentals but recent price action favors GBP.

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