After another blockbuster economic data point out of the UK this morning (November Construction PMI 62.6! vs 59.3 in October), the Pound continues to pound the Burning Buck at $1.64 versus the US Dollar.
Guess what? It can go a lot higher from here.
Especially if the Fed engages in open-market storytelling about why the ISM growth data (best in 3 years) isn’t enough to taper.
Yes - we remain bullish on the British Pound (via FXB).
Incidentally, all of those Keynesian college professors who said austerity would kill the UK (Danny Blanchflower at Dartmouth)?
They are eating crow.
