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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

    Mar 27, 2009
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    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.

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

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