LONDON ¨C In volatile currency markets, one trade stands out as an easy bet: selling the British pound.
With the world¡¯s fifth-biggest economy grappling with a particularly unhealthy cocktail of slowing growth and surging inflation, the British currency has become the medium of choice to express a negative view.
Official data on Wednesday showed inflation reached a 40-year high of 9% in April ¡ª more than four times the Bank of England¡¯s 2% target ¡ª while Britain¡¯s worst cost of living crisis in three decades will not subside until late this year, according to a Reuters poll.
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