26 October 2009

Pound due for Selling from Investors

The pound sterling is set for some aggressive selling tactics by foreign exhcange investors after the poor economic data for the UK last week. It was announced that the UK experienced its sixth consecutive quarterly GDP decline.

Sadly for Britain, now the USA is also set to announce its exit from the recession as third quarter GDP results are due to be published this week - the data is expected to show better-than-expected growth.

The pound has taken quite a beating this year and as the core UK interest rate is likely to remain low for a long time it is likely to be sold like hot cakes.

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