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Pound heads towards year high against dollar
by Chris Marshall on Dec 19, 2012 at 09:06
The fear of a return to recession that could force the Bank of England to begin buying government bonds again led a majority of analysts polled by Reuters to say the pound will weaken slightly against the dollar in the coming year.
And Goldman Sachs reminded clients in a note this week that the Bank of England favours a weaker currency – to help Britain’s struggling exporters – and would use monetary policy to ease financial conditions.
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As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
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