Racing to The Buttom

From The Telegrapth:

Mr King also warned that the Treasury risked sending inflation expectations higher unless it brings its own finances under control. It came as the Bank’s own survey showed inflation expectations for the general public rose to 4.4pc for the year ahead – the highest since the survey began in late 1999.

Comment: B2 Britons should brace themselves for a “horrible surprise” in unemployment this autumn, according to Monetary Policy Committee member David Blanchflower.

This make me fell a bit batter about my USD long position. Things are bad here in the US. The good news is – other parts of the world aren’t doing too good either. My worry about the credit crisis grew as the US seems more vulnerable to more bank bailout. I’m not selling my USD yet, but adding to it is not what I will do at this moment in time.

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