Excerpt from: GFT Analysts in the News
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| August 13, 2008 | | Sterling struggles in currency trading | The UK pound is sliding rather dramatically in forex trading on the currency market today. The sterling is struggling against the US dollar in currency trading as growth reports show a slowing economy.
Another report that added problems for the beleagured pound in FX trading was the inflation report. Inflation appears to be a fixture in the British economy, as well as slowed growth.
As a result, the UK pound is dropping against all other major currencies in forex trading, especially the US dollar. The sterling is at a level below $1.88, which is a rather large departure from the $2 it was at only a month ago.
| Topic Tags: British economy, forex trading currency market, FX trading dollar, inflation, sterling currency trading, sterling FX trading, UK pound forex trading, US dollar currency trading | |
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