Excerpt from: GFT Analysts in the News
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| August 29, 2007 | | U.K. pound moves back up in forex trading | The sterling is back on the road to recovery, at least for now, in currency trading on the FX market. The U.K. pound is rising in forex trading for the first time in three days, mainly on the speculation that the Bank of England has one more interest rate boost planned before the end of the year. Bloomberg reports on the sterling in currency trading:
``The spread will move in favor of sterling because we are
likely to see the Fed cutting rates while the Bank of England is
at least on hold,'' said Niels From, a currency strategist in
Frankfurt at Dresdner Kleinwort. ``The risk is on the upside''
for the pound against the dollar. | Topic Tags: Bank of England interest rate, currency trading FX market, FX market, interest rate boost, sterling currency trading, U.K. pound, U.K. pound forex trading | |
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