Sterling Continues Downward Fall in Forex Trading

November 20, 2008

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.