Excerpt from: Spot Forex
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| March 04, 2010 | | Spread bets and CFDs on the sterling in forex trading | Spread betting and contracts for differences on the spot forex market should consider that the Bank of England has held rates steady again. The rate remains at 0.50%. This is unsurprising, as many have expected the Bank of England to hold the course for now.
Nevertheless, the sterling did get a brief boost on the spot forex market after the announcement, even touching above the 1.5100 level. By now, though, those gains have been pared and the pound is slightly lower against the U.S. dollar in forex trading.
Sterling is going to have trouble truly breaking out of its funk, with the fact that improvements in the British economy are slow in coming, and there are plenty of concerns about the level of government debt used to implement stimulus measures.
| Topic Tags: Bank of England, CFDs, contracts for differences, forex trading, spot forex market, spread bets, spread betting, U.S. dollar | |
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