Excerpt from:  GFT News
.
October 24, 2008

Retail Sales Bring U.K. Pound Lower in Forex Trading

Sterling at five year lows in currency trading
The sterling is at five year lows in currency trading on the FX market today. Retail sales figures have just been released, and they are showing that consumers are not spending as much as they have been.

Indeed, this is another sign that the British economy is headed for a recession. (Or is in one already.) The U.K. pound is likely to continue to struggle in forex trading for the foreseeable future as the government does its best to shore up the banks and stimulate the economy.

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Topic Tags:  British economy, currency trading, currency trading FX market, forex trading, Retail sales figures, sterling currency trading, U.K. pound forex trading

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