Excerpt from: Forex Analysis
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| August 21, 2007 | | Sterling and currency trading against the euro | Forex trading strategy for the U.K. pound is mixed right now, with the sterling receiving support against the U.S. dollar, but weakening in currency trading against the euro. Indeed, the credit crunch is affecting many U.K. institutions exposed to subprime investments, and this creating uncertainty. Bloomberg reports on the U.K. pound on the FX market:
``The markets are really nervous and in that environment
stories in the press about U.K. institutions exposed to U.S.
subprime losses doesn't help,'' said Martin McMahon, a currency
strategist at Credit Suisse Group in Zurich. ``Nobody really
knows what anyone else has on their balance sheets.'' | Topic Tags: currency trading, currency trading euro, forex trading strategy, forex trading U.K. pound, sterling currency trading, U.K. pound, U.K. pound FX market, U.K. subprime investments, U.S. dollar currency trading | |
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