Lack of volatility in US/£ pair


Michael Woolfolk, senior currency strategist at Bank of New York in that city, puts this down to contrasting economic and fiscal pressures on the currencies. "There have been similar moves in the two economies that have meant that there has been little volatility. While there have been negative influences on the dollar with the fiscal deficit showing no signs of shrinking, sterling also has also seen downward pressure." He pointed to the consensus view that house prices are likely to fall in the

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