When the Pound Comes Around
"In recent days, there have been murmurs of an imminent downgrade to the U.K.'s credit rating, but I have to believe that rumor is already partially reflected in the pound's current exchange rate."
I wrote the above Tuesday. On Friday, Moody's downgraded the U.K.'s sovereign debt rating to Aa1 from AAA. The question I heard the most over the weekend dealt with the British currency was "should we reestablish our short positions?" After covering the CurrencyShares British Pound Sterling ETF (FXB) for a huge win on Thursday, the pound continued to fall. Did we cover too soon?...450 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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