20 November 2009

Pound sterling hits week Low

The pound is really struggling. In early London trading, it fell 0.4 per cent against the US dollar. Here are some reasons why it is having a tough time:

- Low investor confidence towards the UK economy
- Even worse-than-expected bad deficit data
- Concerns over the fiscal policies for the economy
- Lack of confidence in the UK government regarding economy

The pound today hit its week low against the US dollar as investors head back towards safer currencies.

Analysts and strategists have warned that the pound faces a continued struggle.

No comments: