“We believe that sterling could well remain above $2 for an extended period”

The last time the British pound was worth more than $2, the elder George Bush was waging a losing U.S. presidential campaign against Bill Clinton and the Eurotunnel linking Britain to Europe was still under construction.

It took almost 15 years for the pound to again touch $2, the level it breached Tuesday after figures showing an unexpected surge in inflation led economists to conclude that multiple interest-rate increases were likely. The prospect of higher rates can boost a currency by promising bigger returns on certain investments denominated in it. Read more

Original post by The Associated Press

The explosive first-quarter growth of foreign exchange reserves came from not only the trade surplus, but also the overseas stock market successes of Chinese companies and currency swaps, a central bank … via China Daily

Original post by China Daily

Bell Canada parent BCE Inc. , a company worth nearly $31 billion on the stock market, is for sale. via Mytelus.com

Original post by Mytelus.com

The Toronto stock market moved higher for a third session into fresh record territory late Monday morning, riding a wave of mergers and acquisitions and continued strength in mining stocks. via News 1130

Original post by News 1130

Sterling rallied on Monday to its highest level since September 1992 after above-forecast UK producer price data reinforced the view that the Bank of England will raise rates next month to cool inflationary … via The Financial Mirror

Original post by The Financial Mirror