Excerpt from: Forex News
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| July 12, 2010 | | Debt concerns continue to weigh on sterling in forex trading | The U.K. pound is heading lower in currency trading on the FX market today, as concerns about the British economy continue. First quarter GDP data has been revised, and is not as positive as hoped.
Additionally, concerns about U.K. debt continue to weigh on the sterling in forex trading. The pound is down against the U.S. dollar and the euro as a result.
Though normally helped by a solid performance in the stock market, the news that BP is gaining on asset sale rumors, and the fact that the FTSE 100 is higher, are not helping sterling in forex trading. Until the British economy can find more solid footing, it will be a while before we see improvement for the U.K. pound.
| Topic Tags: currency trading, debt, forex trading, FTSE 100, FX market, sterling forex trading, U.K. pound | |
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