U.K. Pound Recovers to Some Degree in Currency Trading
October 5th, 2010
The U.K. pound was lower against the U.S. dollar in currency trading on the FX market earlier, thanks to some degree of recovery in the greenback on news pointing to a slowing economy in the U.S.
However, now the sterling is higher in forex trading, even though disagreement persists amongst Bank of England Monetary Policy Committee members about the best course of action. In Europe there are continued signs of economic slowing, though, and sovereign debt remains an issue.
For now, the pound has overcome its earlier losses in currency trading, and is a bit higher. However, things could easily turn around.
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