For a start, sterling at its trough was undervalued: British companies could therefore take much of its rise in their stride.
What better way for China to show that it is sincere about its peaceful rise than to take the lead?
He notes with relish the weakening diplomatic clout of Egypt, the reluctance of Saudi Arabia to take the lead, the rise of Turkey and its froideur with Israel following the flotilla episode that left nine Turks dead, and the resilience of both Syria and Iran, both backers of Hamas.
If that were to happen, demand for dollars would sink, and because there is no other currency to take its place in terms of trade, global inflation would rise as important commodities like agricultural goods, oil and precious metals metals would rise substantially to compensate.
That means if the Fed keeps its word, rates should rise and bond holders will take a hit.
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Europe is closing its interest-rate gap with the United States, but after a widely expected rise in its key interest rate on Wednesday it seems like it will take a while for any further tightening moves.
Much of the rise, though, came from speculation that Lampert would take the company private or liquidate its remaining holdings.
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It also fails to take into account the rise in quality and fall in price of many goods since Mexico opened up its economy in the 1990s, argues Mr de la Calle.
The ROH had warned that if it did not take steps to curtail the cost of its pension scheme, then its own contribution rate might have to rise from 15% of salaries to 26%, which it said it could not afford.
The School Food Trust said the continued rise, shown in its annual survey, more than compensated for a fall in take-up following TV chef Jamie Oliver's campaign on food quality.
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