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Excerpt from:  Forex Analysis
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August 20, 2007

U.K. Pound to Remain Supported on FX Market

Sterling gains against Japanese yen in currency trading
The U.K. pound is expected to remain supported on the FX market, now that a measure of risk appetite has returned and the Japanese yen carry trade is unwinding a bit. Forex trading strategy involving the U.K. pound should condiser that it is gaining again against the yen, as well as against the U.S. dollar in forex trading. Bloomberg reports on the sterling in currency trading:

``The unwinding of carry trades has gone a bit too far recently and we are seeing some adjustment,'' said Michael Klawitter, a currency strategist at Dresdner Kleinwort in Frankfurt. ``The pound should remain well-supported.''
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Topic Tags:  forex trading, forex trading strategy, forex trading strategy U.K. pound, Japanese yen carry trade, sterling currency trading, U.K. pound FX market, U.S. dollar forex trading
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