Sterling Declines as Confidence of Consumers Wanes
The Great Britain pound declined today against the US dollar and the Japanese yen as the concerns about the possible slowdown of the nation’s economic growth weakened the currency.
The Nationwide consumer confidence index dropped to 56 in July from the previous value of 63. The median forecast value was 60. The pound was also weakened as the forecast of the Federal Reserve about the slower US economic growth increased the concerns about the global economic recovery.
GBP/USD dropped from 1.5849 to 1.5776 today as of 8:54 GMT, while GBP/JPY fell from 135.43 to 134.40.
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Earlier News About the Great Britain Pound:
- Pound Rise vs. Dollar, Falls Against Euro & Yen (2010-08-06)
- Sterling Falls After Interest Rates Remained at Low Level (2010-08-05)
- Pound Rises as UK Economy Grows (2010-08-02)
- Britain's GDP Data Pushes Pound Up (2010-07-23)
- Pound Falls on Global Economic Outlook (2010-07-16)