Friday, December 05, 2008
Pound slumps after grim British economic news as markets price in big Bank of England rate cut
The
pound slumped Thursday to a historic low against the euro and to its
lowest level against the dollar in over six and a half years after
further grim economic news fueled expectations that the Bank of England will slash interest rates later.The
pound, which has been languishing in recent months amid... [read more]
posted by fxgencurrency,
in British Pound, ForexGen Academy
@ 1:27 AM,
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Wednesday, December 03, 2008
British Pound Remains Under Pressure Ahead of BOE Rate Cut as UK Construction PMI Falls to Record LowThe
British pound initially eased back on the release of UK construction
activity figures, but subsequently bounced back amidst broad US dollar
weakness.Focusing on the data on hand, construction PMI
plummeted to 31.8 in November from 35.1, signaling the worst
contraction in business activity since... [read more]
posted by fxgencurrency,
in British Pound, forexgen, Money Manager
@ 6:50 AM,
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