Inflation Focus Helps U.K. Pound in Currency Trading
by Trader Rich
Forex trading with the sterlingThe U.K. pound is getting some help in currency trading on the FX market this morning. In forex trading, the sterling is up on the Bank of England’s focus on inflation.
Even though there may be an interest rate cut in October, the U.K. pound is retaining support on statements made by the BoE regarding inflation. Bloomberg reports on the impact this is having on forex trading with the sterling:
“There has to have been a shift in thinking within the BOE, or at least a heightened resistance, towards moving to a more dovish stance,” said Simon Derrick, chief currency strategist in London at Bank of New York Mellon Corp. “This should keep sterling reasonably well supported.”
See Also
- Forex Trading with the Sterling
Currency trading on the FX market
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