Excerpt from: Forex Analysis
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| August 20, 2008 | | Currency trading with the UK pound | Sterling forex trading strategy should consider that things are not likely to look any better for the British currency in the near future. Bloomberg reports the following about currency trading with the UK pound:
``This will keep sterling on the defensive,'' said Daragh
Maher, deputy head of global currency strategy at Calyon, the
investment-banking unit of Credit Agricole SA. ``They were trying
to send a dovish signal to the market and the indications are
this is likely to continue in the months to come.''
Part of the issue is that the recently released minutes of the last Monetary Policy Committee meeting show that most members agree that interest rates should remain the same.
The British economy has been suffering lately, but inflation has been a concern, and this is combining to make things difficult for the MPC.
| Topic Tags: British currency, British economy, currency trading UK pound, forex trading strategy, interest rates, MPC, sterling forex trading | |
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