Sterling, poised to run after Budget

Budget presented by Mr Darling will bring public deficit to well above 12% of GDP, through a mix of measures that will boost employment, reduce further energy dependance and foster health care.
Fiscal stimulus will be partly financed by a hike in highest incomes tax rates, to 50%. Many have blamed the document for its "socialism" but it is the most comprehensive attempt so far to deal with inequality.
UK banking system has proved to be in better shape than its EU or US counterparts and the ratio of public debt stock to GDP will also stabilize at a lower rate than any where else among major blocks.
As in a beauty contest where the least ugly prevails, sterling will likely ouperform all major currencies in the near future.

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