Forex News

The British currency continued to suffer from its central bank monetary policies as interest rates remained unchanged in the country, suggesting that the recession will remain a reality in England for an extended period.

A concerning budget deficit combined with weak economic data has been affecting the pound’s outlook as the Bank of England insists on its asset-purchase program which hasn’t been effective so far, as well as in all-time record low interest rates which decrease the appeal for the sterling in foreign-exchange markets.

GBP/USD bottomed at 1.5923 as of 22:21 GMT from a previous rate of 1.6036.

If you want to comment on the Great Britain pound’s recent action or have any questions regarding this currency, please, feel free to reply below.

Earlier News About the Great Britain Pound:

• Pound Declines Before Policy Makers Meeting (2010-01-05)
• Pound Posts First Yearly Gains Since 2006 (2009-12-31)
• Pound Rallies From 3-Month Low Versus Euro (2009-12-31)
• Pound Falls Further on BOE Meeting Outcome (2009-12-23)
• Pound Suffers on U.K.'s Recession Numbers (2009-12-22)

This entry was posted on Friday, January 8th, 2010 at 12:25 am and is filed under Great Britain Pound. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.