U.K. Pound Sinks Hopelessly Lower in Currency Trading

Forex trading with the sterlingThe U.K. pound is sinking hopelessly lower in currency trading on the FX market. In forex trading, the sterling is now at a 23-year low against the U.S. dollar, and parity is fast approaching with the euro.

Britain’s recession is steep and dramatic, and there appears to be no end in sight. Nothing that the government can do — including a massive bailout for the financial market — seems to inspire confidence in the British currency.

Today’s data, showing continued contraction by the British economy, is likely only to make things worse for the U.K. pound in currency trading.

See Also

• More on the U.K. Pound in Currency Trading
  Forex trading with the sterling
• Forex Trading with the Sterling
  Currency trading on the FX market

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