1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Better U.K. Trade Deficit Stabilizes British Pound

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Mar 9, 2011.

  1. forextrends24

    forextrends24 New Member

    Joined:
    Mar 27, 2009
    Messages:
    252
    Likes Received:
    0
    Today’s sample of Forex Analysis from ForexHound.com

    The British Pound is trading a little better after a report showed the U.K. trade deficit-narrowed more than analysts expected in January led by a record surge in exports.

    Following the release of a report from the Office for National Statistics which showed the deficit contracted to 7.06 billion Pounds (11.4 billion), the British Pound stabilized after a four-day break before reversing to the upside.

    Although the export figures were strong, the reaction looks more like a position adjustment rather than fresh buying. This could be because of tomorrow’s Bank of England policy meeting. Policymakers are expected to leave interest rates at a record low 0.5 percent.

    Read
    full article at ForexHound.com as well more Forex Trading articles including Forex Technical Analysis and Forex Education

    Disclaimer: Trading foreign exchange on the margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that you cannot afford to lose.
     
Loading...

Share This Page