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|  | | October 14, 2008 | | Sterling on the currency market | The U.K. pound is advancing in forex trading this morning, thanks to the latest inflation numbers. Although the sterling was slow to get moving on the currency market, it is now making some substantial gains.
However, as is usually the issue with the U.K. pound in FX trading, the question remains as to how long any gains can be sustained. The British economy continues to slow, and that is likely to outweigh inflation concerns. This means that the sterling should be dropping again on the currency market relatively soon.
Bloomberg reports on the latest moves by the U.K. pound against the U.S. dollar and the euro in forex trading:
The pound advanced to 77.99 pence per euro as of 9:47 a.m.
in London, rising for a third day, from 78.31 yesterday. Against
the dollar, the U.K. currency climbed to $1.7500 from $1.7341. | Topic Tags: currency market, euro forex trading, forex trading, FX trading, pound FX trading, sterling currency market, U.K. pound forex trading | |
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