Thursday 20 November 2008

Sterling: Osborne bounce begins to reverse

Sterling has turned downwards again having tested the $1.51 level following George Osborne's comments last weekend - which, for a while at least, put the markets on notice that Brown was not going to be able to go ahead with his inflationary plans completely unchallenged.

Regrettably the markets still seem to feel that Brown is gearing up the printing press - all the more so, perhaps, with the note this morning from FT alphaville who have spotted that Granite could well become the UK's very own version of Freddie and Fannie.

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