Sterling’s bounce back to a one-year high against the dollar this week may be welcome news for the Bank of England, but not for UK stock market investors. The pound’s recovery, which has also seen it reach a six-week peak on a trade-weighted basis, may help cool the bubbling price pressures that have lifted inflation to 2.9 percent, well above the BoE’s 2 percent target. But as far as sterling goes, what’s good news on the inflation-fighting front tends to be bad news for the leading FTSE 100 stock market. The FTSE is one of the most globally exposed major markets in the world, with some 70 percent of its earnings ... (full story)