Excerpt from: Forex Commentary
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| July 21, 2010 | | Forex trading with the sterling | The U.K. pound encountered some volatility earlier in currency trading on the FX market. Indeed, forex trading with the sterling saw some rather large movements earlier, thanks to an initial dump, and then some recovery.
Now, however, things have calmed down and the U.K. pound is back to modest losses to the U.S. dollar today. Sterling is below 1.53 in forex trading, and does not look to move much higher.
Part of this stagnancy is due to the cautious tone of the minutes released regarding the Monetary Policy Committee meeting earlier this month. Concern that British economic growth is likely to be slower than expected is weighing. Also not helping matters is the debt situation, which is continually brought to mind by the issues with European debt and bank stress tests.
| Topic Tags: currency trading, European debt, forex trading, FX market, Monetary Policy Committee, sterling, U.K. pound | |
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