Excerpt from: Forex Analysis
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| August 07, 2009 | | Sterling up in forex trading | Yesterday, on the news that the Bank of England is expanding its quantitative easing program, the sterling fell back a bit in forex trading against the U.S. dollar. Today, though, the U.K. pound is heading higher in currency trading on the FX market.
The news comes as the sterling continues to find success in forex trading based upon the disposition of the British economy. With hopes high that the British economy is stabilizing and the worst of the recession is past, the U.K. pound is doing well in currency trading.
Today's encouraging economic news has come in the form of U.K. PPI data. While mixed, the PPI data nonetheless shows a trend toward greater stability in the British economy, and this is good news for the sterling in forex trading. With a soon-to-be-growing economy to support it, the U.K. pound is set for further gains in currency trading on the FX market.
| Topic Tags: British economy, currency trading, forex trading, FX market, quatitative easing, recession, sterling forex trading, U.K. pound currency trading | |
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