The tether between the UK and US economies seems to have kept the British pound from participating in a market-wide, anti-dollar rally. Indeed, while EURUSD shot another 150 points above yesterday’s close to new record highs, the pound-backed major produced an ugly reversal candle on a failed run to 2.00. Mirroring the sentiment in Fed Chairman Ben Bernanke’s discouraging speech on monetary policy across the pond, the first revision in the British fourth quarter GDP numbers printed a number of disappointing modifications. Though annual growth held a 2.9 percent pace, fixed capital investment dropped 0.5 percent, imports 1.2 percent and exports 0.5 percent.
