UK deficit will explode
The pound can't win right now. If the UK does too little, it falls on economic measures. Now that the government is promising to pay everyone's salaries, it's down on deficit worries.
The latest leg was a quick move down to 1.1623 from 1.1725. It's clawed back half the move quickly. At this point it's safe to say we're about to have the lowest weekly close in 35 years.
