Sterling continues to levitate. Thursday, it blasted through to its highest level against the dollar in almost four-and-a-half years, still riding on the wave of data earlier in the week showing a rapid decline in unemployment. In addition to the drop in unemployment, house prices, particularly in London, are on a tear. House prices rose 9.1% in the year to February, according to the Office of National Statistics, the fastest of growth since June 2010, with signs that price growth has begun to spread out from the capital. “The interest rate at 0.5% is really too low and needs to be hiked,” said James Kwok, head of ... (full story)