The British Pound is at a 6 year high high. The U.S. Dollar is hitting a 6 year low against the pound.
But why is the British Pound now breaking out? Because they are talking about raising rates and talking about not doing more QE. And they did at least a modest amount of austerity, it did do some cutting. Not as much as they should have, but at least they did some. We didm`t do any. We kept on stimulating.
And I remember guys like Paul Krugman being critical of the United Kingdom, saying, "they are doing it wrong". Well, the market is voting that they are doing it right.
Related: GBP Futures, GBPUSD Forex Cross;
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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