Excerpt from: Forex News
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| September 09, 2010 | | Sterling lower against the U.S. dollar in forex trading | The Bank of England, as expected,has left its rate steady, and left the current quantitative easing program unchanged. The news comes as no surprise, even though earlier in the year there were signs of economic improvement in Britain.
However, since then British economic improvement has lagged, even as the euro zone improves. Also not helping is an outlook in the U.S. that appears to be getting grim.
The news has done no favors for the sterling in forex trading. U.S. dollar has gained the upper hand against the U.K. pound in currency trading -- even as it drops against other currencies. Indeed, sterling is the only major currency that is falling to the greenback right now on the currency market.
| Topic Tags: Bank of England, currency market, currency trading, forex trading, sterling, U.S. dollar | |
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