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6 pts

Opinion on  CurrencyShares British Pound Sterling Trust (FXB)     Sector: Financial  >  Industry: Misc. Financial Services
Bearish on FXB ...

Feb 10, 2008 01:22 PM GMT
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Return Risk
-4.25% MID
Sr. Associate

T he British economy is in as bad shape as the US.Unlike the ECB the BoE has shown its willingness and readiness to destroy the value of the pound.Since the problems in the credit markets,subprime etc was created by excess credit in the first place ,these measures won't work,so I expect more rate cuts by Mervyn King egged on by politicians and financiers.The FTSE should be shorted later(maybe in 2009) once the rate cut induced euphoria wanes down and inflation rears its ugly head.


FXB:  This call was made on 02/10/08 @ $194.8
Rating:   Negative   $194.8 (02/10/08)
Closed:   02/22/2008 @ $197.38 (-1.32% in 12 days)
Target:   in > one year


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