Ever since the euro's inception the pound has in some way been caught in the wake of the single European currency, and its fate now hinges as closely as ever on what happens on the continent. If eurozone leaders disappoint in delivering their latest promise to halt their region's mounting debt crisis, we can expect the U.K. currency to go through almost as dramatic a decline versus the dollar as the euro itself. Certainly, the charts suggest that: The monthly correlation between GBP and the EUR currently stands at 90.55, a significant tightening in the relationship from April 2010, when measured correlation stood at ... (full story)