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British Pound: The Strongest of the Bunch?

Thursday, 08 November 2007 21:03:57 GMT | Kathy Lien, Chief Strategist

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Thursday, 29 November 2007 21:53:09 GMT Bank of England Offers Emergency Funds
Wednesday, 28 November 2007 20:57:33 GMT British Pound Rallies on BoE Comments
Tuesday, 27 November 2007 21:30:03 GMT British Pound: Waiting for More Direction
Monday, 26 November 2007 21:44:12 GMT British Pound: Licking Its Wounds
Friday, 23 November 2007 19:01:26 GMT British Pound: Up to 75bp of Easing Next Year
Wednesday, 21 November 2007 20:54:43 GMT British Pound Falls to 4 Year Low Against Euro
Tuesday, 20 November 2007 21:20:57 GMT British Pound Rallying Ahead of Bank of England Minutes
Monday, 19 November 2007 22:20:24 GMT British Pound: Still Weak But Losses are Becoming Limited
Friday, 16 November 2007 22:38:31 GMT British Pound Closes Its Worst Week Since The August Credit Crunch
Thursday, 15 November 2007 18:24:28 GMT British Pound Extends Losses Following Retail Sales Numbers
Wednesday, 14 November 2007 21:18:27 GMT British Pound: Possible Rate Cut in 2008
Tuesday, 13 November 2007 21:35:23 GMT UK Consumer Prices are Hot
Monday, 12 November 2007 21:51:42 GMT British Pound: Down 400 Pips
Friday, 09 November 2007 21:32:01 GMT British Pound Hit By Sharp Rise in Trade Deficit
Wednesday, 07 November 2007 20:44:49 GMT British Pound Takes Out 2.10
Tuesday, 06 November 2007 21:18:23 GMT British Pound Advances Towards 2.10
Monday, 05 November 2007 22:16:08 GMT British Pound Finally Succumbs to Weaker Economic Data
Friday, 02 November 2007 21:16:18 GMT British Pound Hits Highest Level Since 1991
Thursday, 01 November 2007 20:40:35 GMT British Pound Hit By Dollar Weakness Not Softer Economic Data
Wednesday, 31 October 2007 22:39:26 GMT British Pound Hits 26 Year High

The British pound hit another 26 year high despite softer house prices, leading indicators and an uneventful Bank of England interest rate decision. The strength of the British pound seems to really be coming from overall demand for high yielding currencies and distaste for the US dollar.

Unlike the Eurozone which has actually been reporting stronger economic data, the continual weakness of UK data raises the risk of a sharper slide in the GBP/USD should there be any bit of a dollar rally. Tomorrow we are expecting UK trade data, which is also expected to be weak, but US fundamentals will continue to dominate the currency pair’s price action.

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