Excerpt from: GFT Analysts in the News
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| April 21, 2008 | | FX market unimpressed with BOE plan | On Friday, word of a BOE bailout plan for banks helped boost the UK pound in currency trading on the FX market. Over the weekend, though, and with today's speculation on that BOE plan, the story has changed.
Instead, traders are viewing the BOE plan with worry, and the sterling is dropping in forex trading. Another problem that is fueling the drop is the current mess with Royal Bank of Scotland, regarding its rights problems. Forbes reports on RBS issues:
"After all the denials by RBS that there was a need for any capital
raising initiatives, it's unlikely that the market will take this as a
positive," Martin Slaney, head of derivatives at GFT told Reuters. | Topic Tags: BOE plan, currency trading, currency trading FX market, forex trading, RBS issues, sterling forex trading, UK pound currency trading | |
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