Packing on the Pounds: Sterling Looks Heavy

The British pound, relative to the euro or the Australian dollar, has traded heavy over the last two months. On days when it’s up against the US dollar ... it’s up less than the commodity dollars or the euro. On days when it’s down against the US dollar ... it’s down more than the commodity dollars or the euro. While the euro and Aussie shot to new highs with ease, the pound remained wallowed in range-bound trade. What gives?