Excerpt from: GFT Analysts in the News
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| September 04, 2008 | | Sterling in forex trading | The sterling gained against the U.S. dollar and the euro in forex trading this morning as it rebounded on the interest rate decision made by the Bank of England.
The Bank of England has decided to keep its rate at 5 percent, and that is supporting the U.K. pound in currency trading. The move benefits the pound because it indicates that there are still inflationary pressures that outweigh the economic slowdown.
However, despite the boost this morning, the pound is likely to continue its downward overall trend in FX trading in future sessions.
| Topic Tags: euro forex trading, interest rate decision, pound FX trading, sterling forex trading, U.K. pound currency trading, U.S. dollar forex trading | |
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