Excerpt from:  GFT Analysts in the News
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December 31, 2007

Sterling Sees Yearly Drop Against Euro in Forex Trading

U.K. pound down overall against euro this year in currency trading

The U.K. pound is set to post a yearly loss against the euro in currency trading on the FX market this year. Thanks to a weakening economy, the pound is posting its first yearly loss to the euro in three years. Bloomberg reports on the sterling in forex trading:

``There is still concern about the U.K. economy,'' said Jeremy Stretch, senior market strategist in London at Rabobank Groep, the third-biggest Dutch bank. ``The BOE is going to have to do more to try and reinvigorate the economy.''

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Topic Tags:  currency trading, euro currency trading, euro forex trading, forex trading, FX market, sterling forex trading, U.K. pound currency trading

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