Sterling Drops in Forex Trading
FX market unimpressed with BOE planOn Friday, word of a BOE bailout plan for banks helped boost the UK pound in currency trading on the FX market. by the weekend, though, and with today’s speculation on that BOE plan, the story has changed.
Instead, traders are viewing the BOE plan with distress, and the sterling is dropping in forex trading. Another problem that is fueling the drop is the current mess with Royal
"After all the denials by RBS that there was a need for any capital raising initiatives, it’s unlikely that the market will take that as a positive," Martin Slaney, head of derivatives at GFT told Reuters.
See Also
- Sterling in Forex Trading
Currency trading on the FX market
Original post by Eric J. Fox