Excerpt from: Forex Analysis
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| September 02, 2008 | | Currency trading with the sterling | Forex trading strategy for the U.K. pound should consider that things appear to be going from bad to worse. The government is unveiling measures designed to help the housing market in Britain recover from its worst slump in nearly two decades.
The news has been devastating in currency trading, where the sterling has been plunging rather dramatically against both the euro and the U.S. dollar. Bloomberg reports on the U.K. pound in FX trading:
``The data has really been weak and the market is increasing
expectations of rate cuts,'' said Marcus Hettinger, a currency
strategist in Zurich at Credit Suisse Group, Switzerland's second-
largest bank. ``That's undermining the pound,'' which may fall to
$1.76 in ``the next couple of days,'' he said. | Topic Tags: currency trading euro, currency trading sterling, currency trading U.S. dollar, forex trading strategy, forex trading U.K. pound, housing market, U.K. pound FX trading | |
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