Excerpt from: Forex Analysis
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| April 20, 2009 | | Economic concerns weigh on pound in forex trading | Late last week, the sterling made a run at 1.5000 in currency trading on the FX market. The pound couldn't manage it, and as a result fell to the dollar in forex trading. Now sterling is solidly below that psychological mark, hovering around the 1.4600 mark.
Most of the problems besetting the pound right now in currency trading have to do with the economy. Economic news the first half of 2009 is expected to be grim. Additionally, the pound is tied to risk appetite in forex trading, so bank stress tests and other stock market news is likely to put pressure on the British currency.
There are some signs, however, that the British economy could be stabilizing, leading to speculation that things might start improving in the latter half of 2009.
| Topic Tags: currency trading, dollar forex trading, forex trading, FX market, pound forex trading, sterling currency trading, trading FX market, U.S. dollar | |
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