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The UK recovery and trading the pound
The UK economy's growing at its fastest rate since 2007. The latest figures show growth in all four quarters of 2013, bringing the annual total to just under 2%. However, broadly speaking, the numbers and still sluggish, with Q4 figures slightly down on Q3. There's also some concern that the growth is credit related and mostly relates to financial services. The pound has risen slightly this Tuesday against the US dollar and the euro.
Trader, Clive Lambert from FuturesTechs says cable has had a good run lately and it's set to continue in that vein. He says he's more interested in EURGBP which has formed a downtrend line. He's says he's looking for opportunities to go short euro sterling.
The latest figures, which could still be revised, will put more pressure on the Bank of England to raise interest rates. It's said it would consider that when unemployment fell to 7%; it currently stands at 7.1%. There are fears that any early rate rise could kill off the recovery .
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