U.K. Pound Gets a Bump in Currency Trading

November 20, 2008

Sterling gains in forex tradingThe U.K. pound saw a bump in currency trading on the FX market following the news that the Bank of England may cut interest rates further. Additionally, the minutes from the last BoE meeting show that the decision to cut rates by 150 basis points was unanimous.

Sterling is seeing some gains in forex trading, and appears to be holding steady after its surge. The bump has taken many by surprise, but others are viewing the unexpected jump by the pound as evidence that some traders think that the moves by the government will stimulate the British economy and provide support in currency trading.

See Also

• Sterling in Forex Trading
  Currency trading on the FX market

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