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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (24084)	10/12/2002 12:00:35 AM
From: energyplay	Respond to of 74559

Re: Sterling - there was a remark in the FT today by Marc Chandler (I think) saying something like "Blair has realized he has the politcal capital to to take the UK into the Euro or make war on Iraq, but not both. It looks like war has won" Therefore, according to the article , Sterling will not be devalued to levels where it cold then convert to Euros. COnsequently, Sterling is up. *** My view is that a number of people in the Euro zone are using sterling as a hedge - a nearby, non-USD way to get out from any potential Euro crisis. The yen in bad shape, and the Swiss franc is not liquid enough for some people.