The Pound continues to show some resilience in the face of
fairly damning evidence. There have been some negative flows
in Europe seen, but the pound continues to outperform on the
crosses, i.e. Swiss Franc and Euro and the Japanese Yen.
This comes despite the latest poor UK data, which
came in the form of a 18 year low in consumer confidence.
The index fell to -29 in May versus a -25 median and -24
last. These numbers follow the collapse in the Nationwide
HPI released Thursday.
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