There are very mixed reactions to the UK economy. While it certainly appears that the UK is suffering from a double-dip recession, the government is in denial. The BoE is not confident that the economy will grow again at pre-crisis levels. And economists are dubbing this economy worse than the Great Depression. While it doesn’t seem that sterling can rally on such outlooks, it has and remains resilient in today’s trading. However, how long can that remain the case? Remember, the market can remain irrational as long as it pleases.
- George Osborne: Britain is not in recession (The Telegraph)
- Queen’s jubilee could harm UK economy, Bank governor warns (The Guardian)
- UK double-dips back into recession (Independent.ie)
- M&G’s Mike Riddell: UK economic recovery worse than Great Depression, and no sign of improving (ForexStreet)
- U.K. Yields Hit U.S. Level (WSJ)
- GBPUSD Update (50’s Blog)
- EURGBP daily (Screencast)
- GBP/JPY – Double Top Forming with 130.00 as Key Support (fxtimes)
- Making Even More of a Great Trade: GBPJPY (MarketVisionTV)