Pound Lower on Trade Balance & Monetary Easing Speculation
The Great Britain pound went down today after trade balance deficit widened retail price inflation slowed. The sterling also weakened on speculation that the Bank of England will add stimulus.
Seasonally adjusted trade deficit rose to £8.6 billion in November from £7.9 billion in October. The shop price index of British Retail Consortium fell to 1.7% in December from 2.0% in November. There are talks that the BoE may expand its asset purchases program, but most economists think that the target for bond purchases will remain the same.
GBP/USD slumped from 1.5482 to 1.5378 and GBP/JPY tumbled from 118.96 to 118.38 as of 14:29 GMT today.
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Bank of England, British Retail Consortium, GBP/JPY, GBP/USD, Great Britain, Inflation, Pound, Trade Balance
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Earlier News About the Great Britain Pound:
- Pound Retreats Against Euro, Higher vs. Dollar & Yen (2012-01-09)
- UK Pound Lower as Concern about Isolation Grows (2012-01-06)
- Pound Jumps to Highest Price in More Than a Year Against Euro (2012-01-05)
- GBP/JPY Falls as HPI Drops (2011-12-30)
- Pound Falls with Mortgage Approvals (2011-12-23)