19/6/2008 - The Current Market Sentiment |
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Today's UK retail sales incredible surge in May by 3.5% m/m and 8.1% y/y could boost the british pound across the broad pushing the cable above 1.97. The surprising consuming data could contain the market sentiment after Mervyn King's letter to Chancellor of the Exchequer Alistair Darling which indicated that the current high inflation rate above 3% is temporary and it is to go lower but it can rise above 4$ in the next half of this year. The inflation rate has reached 3.3% y/y in May and the
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