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May 08, 2008

BOE, ECB Keep Interest Rates the Same

Euro and sterling in forex trading
Both the European Central Bank and the Bank of England opted to leave their interest rates the same in decisions today. 

For the UK pound in currency trading, this meant a short term gain against the US dollar. However, economic indicators are showing a slowdown, and the BOE may have to cut rates later this year.

The euro initially fell after the news that the ECB kept rates steady. However, a news conference with Jean-Claude Trichet -- in which he struch a hawkish stance -- is helping the euro turn around.
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PermalinkEuro and Sterling in Forex Trading
.Currency trading on the FX market
.http://www.gftforex.com/land/index.asp?aid=446
Topic Tags:  currency trading, currency trading US dollar, euro forex trading, forex trading, interest rates, sterling forex trading, UK pound currency trading
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