Excerpt from: Forex Analysis
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| March 09, 2010 | | U.K. pound can't remain above 1.50 in forex trading | The sterling is continuing its downward spiral in currency trading, after a gallant attempt at gains. However, the British currency just can't seem to keep above the 1.50 level at this point.
Problems in the euro zone are causing some pressure on the sterling, as are dropping gold and oil prices. Sterling often moves in forex trading with commodities. However, other issues are also extent for the pound.
One of the big ones is continued concern over economic fundamentals. The British economy continues to recovery slowly -- sometimes even moving backward. Additionally, there are continued concerns about Britain's ability to handle the large amounts of public debt it incurred as part of economic stimulus efforts.
| Topic Tags: commodities, currency trading, forex trading, sterling currency trading, U.K. pound, U.S. dollar | |
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