Sterling Digest, April 20 2012: sterling hot

A Bank of England Old One Pound Banknote
Sterling so hot even old notes find value

Sterling has staged a breakout across the board this week as its underlying fundamental landscape has turned hawkish. Early Friday trading saw GBP break to new 2012 highs versus the AUD, CAD, USD, and NZD. Its been a tremendous week. So it is no wonder that many traders are looking to get short sterling into next week. Whether this is a good idea or not depends on your timeframe. Just remember though, the trend is your friend.

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