The pound’s green shoot

The pound was beaten. Is it back? The UK currency is flirting now with the $1.50 level, the highest against the dollar since January. Against the euro, too, sterling is rallying. The euro is down to £0.88 from highs of around £0.95. Traders reportedly believe the pound has upside. But in a recovery race of broken economies and lame currencies the pound’s hopes look better against the euro than the dollar. The foreign exchange market is trying to make sense of the green-shoots debate. When the g...