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| | Thu, 20 Nov 2008 08:19:31 -0500 | | Currency trading with the U.K. poundYesterday, the sterling got a surprise bump in forex trading on the currency market. Word that the Bank of England was planning more rate cuts in an effort to prop up the economy provided some good news for the pound in FX trading.
Today, though, we're back to the same old story. Retail data is down, and in currency trading, so is the U.K. pound. Economic weakness remains the story for the sterling in forex trading, and no one is sure when that is going to end.
So, even with attempts to stimulate the economy, there is very little hope for the pound in FX trading right now.
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| | Wed, 19 Nov 2008 08:10:06 -0500 | | Greenback could be getting ready for another surge in currency tradingThe U.S. dollar is showing some stability in FX trading on the currency market today. It has been fairly even the last couple of sessions, in a marked departure from recent volatility.
The greenback could be gearing up for another surge in currency trading, however. The Fed is looking to inject even more cash into the markets, and this could provide a catalyst for the U.S. economy by improving liquidity (and maybe combating deflation).
What the Fed is doing, however, is injecting an element of uncertainty that could cause some confusion. Additionally, the move could mean the end of the Fed Funds rate as the most important monetary policy-maker.
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| | Tue, 18 Nov 2008 08:35:50 -0500 | | Sterling pulls back after attempted rally in currency tradingThe U.K. pound remains under pressure in forex trading on the currency market today. The sterling attempted a rally against the U.S. dollar in currency trading earlier, but has been falling back.
One of the fears now is that inflation is falling, and that deflation could be the next hurdle faced by the British economy. Interest rate cuts are in the works, though, and that should help keep deflation at bay.
Resistance now seems to have formed about the $1.50 level for the U.K. pound in forex trading, and it will be interesting to see how long the sterling can try to push through in currency trading.
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