The British Are Buying, And The Pound Is Getting A Lift
By: Kelley Holland | News Writer
Michael Blann | Photodisc | Getty Images
Stronger than expected retail sales in Britain had traders expecting more inflationary pressure, and they did some shopping of their own - for the pound.
Consumers may not sustain their spending binge, since the government is planning significant public-sector job cuts and inflation is high. But traders are optimistic about eventual interest rate hikes, so the pound could have a nice ride. For details and numbers, check this analysis.
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Stronger than expected retail sales in Britain have traders expecting more inflationary pressure, and they're doing some shopping of their own - for the pound.
