Excerpt from: Forex Forecast
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| June 27, 2008 | | Sterling in currency trading on the FX market | The economic news on the British GDP is in, and it is weak. As a result, the UK pound is looking to move downward in the forex trading forecast.
Sterling has been plagued by weak economic data, along with inflation, which is resulting in difficult in currency trading on the FX market. Bloomberg reports on the UK pound in forex trading:
``Growth being revised down, while inflationary pressures
are clearly persisting, doesn't auger well for the pound,'' said
Jeremy Stretch, a senior currency strategist in London at
Rabobank International, the third-largest Dutch bank. ``The
short-term outlook for the pound looks quite bleak.'' | Topic Tags: currency trading, currency trading FX market, forex trading, forex trading forecast, sterling currency trading, UK pound forex forecast, UK pound forex trading | |
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