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U.K. Pound Gains on FX Market

Currency trading with the sterlingThe U.K. pound is gaining on the FX market this morning as economic data shows that things aren’t as bad as once thought in Britain. Retail sales are showing that consumer spending is not in a state of collapse, and this is offering hope for the British economy. Bloomberg has news on the sterling and forex trading:

Britain’s currency, which rose against 13 of its 16 most- active counterparts tracked by Bloomberg, climbed to $1.9876 as of 7:53 a.m. in London, from $1.9843 yesterday in New York. It was at 74.30 pence per euro from 74.50 pence.

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Source : GFT Forex

This entry was posted on Tuesday, January 29th, 2008 at 14:12 and is filed under GFT Forex. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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