Tuesday, November 25, 2008

Consolidate loans

The lull before next week's storm
The reaction to the combination of yesterday's UK data and US rate moves was baffling to say the least. One would have assumed that the combination of much better than expected UK retail sales figures (a fall of 0.1% against expectations of a 0.8% drop) and a sharp drop in US Treasury yields might have given cable a bit of a leg up enabling it to hold above the important 1.5030 level. As it happens, the total opposite occurred, with Sterling losing ground against all the majors and one must c

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