Punters might want to use today's silly sterling rally on a barely positive revision to 3-month...

|By:, SA News Editor

Punters might want to use today's silly sterling rally on a barely positive revision to 3-month old data to reduce exposure (or maybe get short) the currency, writes Jim Leaviss. Maybe of more import, the U.K. current account deficit showed significant deterioration during Q2, coming in at 5.4% of GDP (Q1 revised far higher as well); all of this and sterling - on a trade-weighted basis - sits at a 4-year high.