Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: zonder who wrote (1688)	3/10/2004 12:18:28 PM
From: mishedlo	Read Replies (1) of 116555

Does anyone here follow GBP? The market seems to have taken a stab to the heart following disappointing industrial production and trade numbers, guessing that means no more rate hikes for a while. I am wondering if the last two days' drop can be an interesting entry point. I would not play the GBP Their currency has been strong because of high interest rates. Interest rates are high trying to kill housing speculation. My understanding is that speculation is rampant over ther. Perhaps like CA here but I do not know. In most parts of the US there is not rampany speculation, although prices have now doubt gone up. At any rate if housing slumps in the UK, with the horrid defict numbers they have, and if and WHEN the UK starts cutting (remember everyone thinks BIG hikes are coming), the pound can take a huge hit. In fact, it can take a hit if the hikes that are priced in do not occur. Mish

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