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Why Everyone Hates The Pound
The British pound has fallen out of favor among currency investors so far in 2013. Since hitting a high of 1.6379 against the U.S. dollar on January 1, the pound sterling has tumbled nearly 4 percent to today's levels around 1.5735 (click to enlarge): Société Générale Head of FX Research Kit Juckes says that at this point, "Sentiment towards sterling is getting to be about as negative as it can usefully be." Juckes says three bearish arguments for holding pounds are all hitting the market at once: U.K. GDP, which was expected to fall 0.1 percent last week, actually fell 0.3 percent, which has everyone talking ... (full story)
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