TAKE SOME PIPS GO RUN FOR PRAY
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Euro Zone is Reason to Buy, Not Sell, Sterling
The euro zone may still be casting a nasty dark shadow over sterling, but there is still little reason to really sell the U.K. currency just now. On the contrary, the recent decline in sterling, triggered by concern that the Bank of England is more dovish than originally thought, could well prove a good buying opportunity. The fortunes of the pound, which had been doing so well for much of this year, have been thrown up in the air over the last week or two as investors reacted guardedly to news that the Bank of England had resorted to more quantitative easing at its policy meeting earlier this month. Confidence in ... (full story)
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