The Great Britain pound regained its strength today after yesterday’s decline as Forex traders looked at the Bank of England bonds purchasing program more favorably, regaining confidence in Britain’s currency.

The Great Britain pound slumped today as the Bank of England held the main interest rates unchanged and expanded its bond purchase program today, signaling about weakness of the UK economy and debasing the nation’s currency.

While, in America, the talk is all about the likelihood of QE3, in Britain, the Bank of England is mulling QE2. Indeed, this Thursday, when the interest rate decision is announced, many expect that an announcement of an increase in asset purchases will accompany it.

The Great Britain pound retreated today as the government report showed Britain’s economy grew with slower pace than was previously estimated, fueling concerns the UK isn’t able to survive without additional stimulus.

Earlier today, the UK pound was falling in Forex trading. A drop by the FTSE 100, as well as concerns about bank capitalization, were among the factors causing losses for the sterling. Now, though, things have turned around a bit — at least against some currencies. Concerns about the eurozone had been weighing on the sterling against the US dollar, but new prospects for stability in the euro region are helping the situation.

The Great Britain pound plunged today as the minutes of the central bank’s policy meeting showed the policy makers considered boosting the asset purchasing program, while consumer confidence dropped further.

The Great Britain pound posted the fourth straight weekly decline against the US dollar and the Japanese yen as the fundamental data signaled that the nation’s economy is stagnating, prompting the speculation the UK central bank will be required to embark on a quantitative easing.

The South African rand strengthened today as the European Central Bank announced it’s planning to lend dollar to the European bank in an effort to support the European banking system and to boost liquidity.

The Great Britain pound posted this week the biggest weekly drop against the US dollar in nine months on the speculation the fragile UK economy will force the nation’s central bank to keep the interest rates at the record low level.

The Great Britain pound fluctuated versus the dollar today after the Bank of England kept its main interest rates unchanged yesterday and today’s report showed that producer prices declined last month. The pound advanced against the yen.