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The BOE, with a strong pound and a mortgage market that is almost entirely floating rate, is expected to go higher still, showing the Fed stimulative by contrast.
FORBES: Wal-Mart Or Malpass?
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If you don't want to take much risk and want a decent income, Libor and floating rates may be the place to go for it.
WSJ: A Secure High-Yield Alternative?
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All the while, Milton Friedman kept pointing out that these crises would all go away if we went to a system of flexible or floating exchange rates.
FORBES: Currency Manipulation