Quantitive easing leads to a temporary drop in the pound as confidence returns to the markets. Good news, this should stimulate/maintain overseas investment in London and the UK – exactly what we need to come out of the recession first and again be seen as a safe haven (politically, economically and legally) for investors money.
So there we were, celebrating the fact that Britain’s recession was over bar the shouting, a fact endorsed by sterling’s climb to $1.70, its highest level against the dollar since October.
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