Forex News

The Great Britain pound rose today against the U.S. dollar for the first time in the last 10 days after reaching a new bottom level since the mid October 2006.

The Great Britain pound fell today against its major counterparts after the private report on July house prices decline and the commentary made by the Bank of England policy maker.

The pound sterling posted today its biggest drop against the U.S. dollar since May 7 as the speculations that Bradford & Bingley Plc, the largest mortgage lender in U.K., will have to raise more capital, indicated a worsening in the real estate market crisis.

The Great Britain pound rose today against the U.S. dollar and the euro, partially recovering its losses from the last week, as the record high PPI growth added confidence that the Bank of England will not lower interest rates next time.

The Great Britain pound continued its growth against the euro and the U.S. dollar today, even after the housing prices fell again and the chances fore more interest rate cuts by the Bank of England went up.

Great Britain pound fell down to a new absolute minimum level against the euro today as the fresh economic data from U.K. signaled that the output growth will probably slow down significantly.

The Great Britain pound fell sharply today against dollar, euro and yen as the house prices fell in March by 2.5%, indicating that the country’s mortgage market slump is not over yet.

The currency of the United Europe reached a new record high level against the British pound today as the estimate for the consumer inflation in Eurozone rose unexpectedly in March.

The commentary on the current account deficit in United Kingdom pulled the Great Britain pound down today, as it added one more reason for the British currency to be less favored by the Forex trading institutions.

The Great Britain pound fell to its lowest historical value against the euro today after the pessimistic economic news were released in UK. Pound also lowered against other major currencies today.