Pound Falls to New Lows as BoE Expects Recession
The Great Britain pound fell to its
According to the interview given to The Times by Martin Weale (a member of the Monetary Policy Committee of the Bank of England), the risk of the continuation of the recession is quite strong and there are chances that the 4-quarter growth value may turn out negative in the UK. Today’s figures from the macroeconomic reports from over the world also indicate a slowdown in the recovery.
The analysts believe that the
GBP/USD fell from 1.5501 to 1.5472 as of 16:05 GMT today after hitting as low as 1.5372 earlier. GBP/JPY went down from 131.93 to 130.31, touching 128.79 during early trading session — the lowest level for the currency pair since May 25. EUR/GBP increased from 0.8159 to 0.8193.
If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.
Tags
Bank of England, EUR/GBP, GBP/JPY, GBP/USD, Martin Weale, Pound, United Kingdom
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Earlier News About the Great Britain Pound:
- Great Britain Pound Rises on Smaller Budget Deficit (2010-08-19)
- Sterling Declines as Confidence of Consumers Wanes (2010-08-11)
- 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)
1 Comment
There is evidence mounting that the BOE bank of england reports are missleading.
Trends are indication of GB pound value much higher, the Euro in contrast several hundred points lower.
Whist exports are important, the cost of raw materials is paramount to manufacturing and finance since interlinking cost poses a greater threat to the economy.
Using dovish comments to devalue the GB pound for export trade does little to create economic stability, instead it betrays the true picture.
BIS- bank of international settlement, ECB- European Central Bank and ZFS- Zurich Financial Services are the creative pact opponants beind certain BOE reports.
Lets not forget the destructive corrupt influence of the ZFS, AIG arm AIGFP – American International Financial Products –
American International Groups parent Zurich Financial Services.
The cause of the financial crisis- now majority owned by the US Government.
Is certainly a controlling influence, but then fraud is second nature to this organisation.
The contributors to false reports are just the pawns of the Pawn Brokers like the BIS the Gold Hirers and ECB the printers of money with false value.