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What Happens If Tuesday's U.K. CPI Is Over 3%
Posted on June 16, 2008
The British pound was hands down the best performing currency today as it rose against the US dollar, Euro and Japanese Yen. This was partially due to dollar weakness and the expectation that tomorrow s consumer price figures will be hot.Like the rest of the world, the UK has not been immune to the sharp rise in crude, but one unique problem that Bank of England Governor King faces that his peers do not is the need to publicly explain himself. Consumer prices are currently at 3 percent and if it rises any higher than that, King will be forced to submit a letter to Chancellor Alistair Darling...
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