U.K. Pound Continues to Struggle in Spot Forex Trading

Spread bets and CFDs on the sterling should consider that economic weakness remains a problem in Britain. The U.K. pound continues to struggle in spot forex trading as the possibility of another recession looms.

GFT's Boris Schlossberg reports on the sterling in spot forex trading:

Today’s weakness in the Nationwide survey comes after  the weak Land registry numbers and the softer than expected mortgage applications data suggesting that the recovery in UK housing sector is losing momentum. Today’s disappointing housing data along with the decline in GFK consumer confidence reading which registered a decline to -19 from -18 the month prior, confirms our view that the UK economy remains very vulnerable to double dip recession risk.

Spread betting and contracts for differences on the spot forex market should consider that the U.K. pound remains down against the U.S. dollar, even though the euro is moving higher in forex trading, and risk appetite is making something of an appearance.