Forex Trading Forecast: Sterling

by Trader Rich

U.K. pound continues to struggle in currency tradingThe forex trading forecast for the sterling continues to be dire. Even after yesterday’s announcement of a massive bank bailout, the U.K. pound still can’t get a break in currency trading on the FX market. Indeed, the perception is that there is very little that can be done to help the British economy and to shore up the sterling.

The U.K. pound is at multi-year low of .3934 — the lowest it’s been since 2001. Sterling is not performing any better against the yen or the euro in forex trading. In fact, there are thoughts that parity with the euro could be achieved for the first time since the introduction of the 15-nation currency.

Clearly, some sort of confidence is going to be needed if the forex trading forecast for the sterling is expected to improve.