Forex News

The British pound had a positive performance before the weekend as both domestic and international scenario brought favorable news and consequently traders to purchase assets in the country, as a real estate report revived confidence towards U.K.’s economy.

The pound pared some of the past weeks’ losses versus important currencies, specially the U.S. dollar after a report showed this Friday that house prices increased considerably in the monthly comparison, being that positively interpreted by analysts as the British real estate sector was one of the most affected by the credit crunch during the global slump. Internationally, the pound advanced as a positive retail sales in the U.S. allowed risk appetite to grow o a global scale, bringing investors back to assets in London markets, which had been quite abandoned this year so far.

A good amount of traders considered the pound’s decline this year as too sharp, and today’s news allowed the pound to gain for the session straight session, as confidence surges in England, after several consecutive weeks of drops.

GBP/USD closed at 1.5201 from an intraday rate of 1.5070.

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:

• Inflation Outlook Fuels Demand for British Pound (2010-03-12)
• Bank of England's Decisions Affect Pound's Performance (2010-03-04)
• Consumer Confidence Support Sterling's Advance (2010-03-03)
• British Crisis Pushes Pound Further Down (2010-03-02)
• Budget Deficit Sets Pound to Sharp Fall (2010-02-27)

This entry was posted on Saturday, March 13th, 2010 at 4:49 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.