Excerpt from: Forex Analysis
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| May 12, 2008 | | Sterling gains in currency trading | The sterling is gaining strength in currency trading today on the FX market. Forex trading strategy should consider that the gain is thanks to the recent positive PPI data coming out of Britain.
Additionally, some are beginning to think that the BOE won't have to cut interest rates as quickly as expected when the decision to keep them steady was made last week. Bloomberg reports on the sterling in currency trading:
``The pound's gone up as a result of reduced expectations of
rate cuts going forward,'' said Adrian Schmidt, a senior foreign-
exchange strategist at Royal Bank of Scotland Group Plc in
London. ``Producer-price inflation came in a bit higher and the
real issue is how weak the economy is going to be and how high
inflation is.'' | Topic Tags: BOE interest rates, forex strategy UK pound, forex trading, forex trading strategy, forex trading UK pound, sterling currency trading | |
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