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Sterling hits its highest level vs. the greenback since September and the highest vs. the euro...

Sterling hits its highest level vs. the greenback since September and the highest vs. the euro since June 2010. The meme in the currency markets has the BoE marginally more hawkish than the Fed, thanks to uber-dove Adam Posen ending his call for more QE. The U.K. economy, however, remains stagnant to down. Part of this equation isn't adding up. FXB +4.1% YTD.
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