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.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.
