Principal content
Inflation data send sterling through $2
The US dollar suffered relentless selling, helping to push sterling above $2 for the first time in almost 15 years and the euro near its all-time high, after high UK inflation data and benign US consumer prices prompted the dollar’s retreat.
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Prodi keen to deter foreign suitors
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Lex
Expensive defensive stocks
Compared with their bond market peers, investors in US equity markets remain notoriously optimistic in their economic outlook.
Markets
Overvalued pound

£1 will now buy you more than $2. A rise in sterling was, in itself, wholly justified by the new data in the UK. But health warnings are needed, writes John Authers.
Comment
Climate change is not a global crisis – that is the problem

Climate change hurts some places but helps others, thereby opening the way for dangerous political conflicts, writes Gideon Rachman.