Why April Showers the Pound With Good Fortune
- Sterling rose against dollar every April during last 13 years
- Trend has withstood financial crisis, political risks: BofAML
Sentance Sees Inflation Holding Steady in the U.K.
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The pound’s good fortune is set to continue this month, if seasonality is any guide.
Sterling appreciated versus the dollar every April during the last 13 years in what Bank of America Merrill Lynch describes as the strongest seasonal trend among Group-of-10 currencies. In a research note, the bank recommended a two-month option trade to take advantage of the periodic strengthening pattern, while Mizuho Bank Ltd. and Rabobank also have put stock in the U.K. currency’s tendency to outperform in April.