Friday, April 03, 2009

British Pound Look Up

For Sterling at least, things may be looking up. After its sharp fall at the end of last year, the Pound is looking stronger. It is still trending lower, but that trend is less south-facing with every week that passes.

The last few weeks have brought much more of a two-way street for the Dollar. Investors have swung back and forth, sometimes violently so, in their perception of the US currency as a top-notch safe haven.

The Dollar's Achilles' heel remains the scale and scope of the multi-trillion dollar bailout programs initiated by Washington. The more the adminstration spends on rescue plans, the more the market worries about where the money is coming from. The recent decision at the G20 Summit to allocate $1 trillion will do nothing to strengthen the Dollar.

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