Seeking a sterling collapse
BACKGROUND
EUR/GBP hit the unprecedented level of 0.7614 (January 15) before retreating in whippy and panicky financial markets. However, within the confines of the sterling's history, such elevated levels are within past parameters and potentially EUR/GBP could move to the 0.8150 level without breaking this pattern. This roughly equates with GBP/DEM around 2.40. The low in GBP/DEM since 1980 was under 2.20 in late 1995, while in the aftermath of the 1992 ERM I debacle, GBP/DEM dropped to lows of
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