Your forexlive ENewsletter

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• Economy probably sped up as U.S. consumer spending rose most in four years
• Our currency has gone west and stagflation will soon be upon us
• Britain in battle over stagflation
• Irish PM quits as party leader
• Many “new” Chinese contracts anything but…

Economy probably sped up as U.S. consumer spending rose most in four years Posted: Bloomberg article

Our currency has gone west and stagflation will soon be upon us Posted: High inflation and a falling pound make it tougher for Britain to sell gilts, which we're about to do in near record quantities. Liam Halligan in The Telegraph.

Britain in battle over stagflation Posted: New figures set to confirm that growth has slowed while unemployment and oil prices rise - a severe problem that blighted the 1970s.

Irish PM quits as party leader Posted: Brian Cowen has resigned his post as head of his party, which is headed for certain doom at the March 11 election. Why Fianna Fail would want to subject a new leader to a crushing defeat is beyond me, but there you have it...

Many “new” Chinese contracts anything but… Posted: We warned during the week that the "new contracts" supposedly being signed by China should be taken with a grain of salt... Turns out we we were spot-on... Happens every time leaders go on these state visits...