Pound far from being overvalued - Steve Ruffley

By FXstreet.com | July 21, 2014 AAA

FXStreet (Łódź) - In his report on the current state of the UK economy Steve Ruffley, Chief Market Strategist at InterTrader.com, suggests that the pound is not overvalued, contrary to the general perception.



Key quotes



"The Pound is up to a 6 year high against the Dollar, and with London seemly on an unstoppable boom the Pound can only get higher."



"People may say we are over valuing the Pound, but we are far from it."



"The rise of the Pound from 2007 has to reach 1.73132 a key pivot before we can truly say that we are overbought."



"Personally I have been predicting that the UK would be 1st to move on rates for nearly a year, so I suspect as the rest of the world now jump on the Pound it can only go higher in the short term."



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