The UK press reported earlier today that Barclays may not have been able to take advantage of government bailout funds because a clause in its private fund-raising with Middle East investors last fall contained anti-dilution provisions would have given those investors a majority of company. Those reports are apparently being denied by Barclays, according to CNBC. We’ve not been able to find anything in print yet to confirm it, though.
Also supporting the pound are comments from Moody’s saying the UK’s credit is on par with other AAA nations.
Cable continues to rebound and EUR/USD is rebounding as well. Geithner’s comments on China may be weighing on the dollar, as well.
