Excerpt from: GFT Analysts in the News
|
 |
| June 17, 2008 | | Sterling drops in forex trading on the currency market | The UK pound is struggling in currency trading on the FX market this morning, even with inflation. Inflation is at the highest it's been in a decade, but many analysts feel that it is not high enough to trigger increases to Bank of England rates.
Meanwhile, this high inflation is thought to be leading toward stagflation, rather than a growing economy. With housing market troubles and other issues plaguing Britain, the economy is expected slow rather significantly.
So, even though on the surface there might appear to be some good news for the sterling in currency trading, there really isn't much in terms of support.
| Topic Tags: currency market, currency trading FX market, forex trading, forex trading currency market, stagflation, sterling forex trading, UK pound currency trading | |
|
|
