Word: daragh
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...good news for Britain's pound: nasty fronts like this are usually rare, and soon pass. For one, the slide likely had more to do with Prudential's announcement than with intensified concerns about hung parliaments, as was reported widely in the British press, says Daragh Maher, deputy head of global foreign exchange strategy at Credit Agricole in London. In some ways, that's encouraging. If a single opinion poll was able to trigger the kind of slump seen Monday - in a volatile day of trading, sterling eventually closed 1.7% down on the dollar - an actual hung parliament might...
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