Excerpt from: Futures and Commodity News
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| October 12, 2007 | | Placing spread bets on the spot forex market | Spread betting, contracts for differences and spot forex trading should take into consideration that the U.K. pound is likely to remain under pressure for some time. Led by the housing market, the British economy is slowing, and this could lead the BOE to cut interest rates. Bloomberg reports on the housing market and the U.K. pound:
``We're going to see a housing-led slowdown in the U.K. and
that's driving sterling lower,'' said Niels From, a currency
strategist at Dresdner Kleinwort in Frankfurt. ``It increases the
risk that we'll see rate cuts from the Bank of England sooner
rather than later. The pound is likely to stay under pressure.'' | | |
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