You have to be impressed by the British Pound.
It wasn’t that long ago that everyone was making “pound getting pounded” puns, and it was universally agreed upon that the UK economy was the sickest in the developed world. And like everywhere else it is pretty mediocre.
But 2013 has been a huge turnaround year, in part due to the improving fortunes of all of Europe, and also over increased optimism with respect to monetary policy.
Today the Bank of England’s Mark Carney came out and said there was no interest in more QE, and that send the pound shooting up, but actually it’s been on an amazing run for months.
Meanwhile, suddenly it’s the US with seemingly inconsistent monetary policy, and a government eager to shoot itself in the foot and chip away at the dollar’s dominant global status.
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