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Sterling faces destructive 'triple cocktail' in 2013 – HSBC
Sterling will weaken this year as Britain faces a potentially testing triple cocktail of destructive factors, says HSBC. "The pound's fiscal credibility is under threat as a sovereign downgrade looms," the bank said in its 2013 HSBC View published on Monday. Alongside that, the bank says austerity is now kicking in at a time when the MPC appears less activist which could see a 'what's wrong with a weaker currency' attitude prevail. And the UK's failings will start to "grab attention" as the US steps back from the fiscal cliff, momentum grows in China, and eurozone break-up fears diminish. "The pound looks set ... (full story)
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