Pound is under the weather as exhange rate drops
After a four-day weekend, the Pound is under the weather in
the UK, reports Currency Index.
The previously strong sterling dropped around 2c against the
euro and US dollar ahead of the Bank of England's meetings to debate the
increase of Quantitative Easing.
"The UK economy is fundamentally weak and heavily exposed to
the Eurozone problems, and with the recession confirmed, there is increasing
pressure on the Bank of England to act by increasing QE or, as the IMF have suggested,
even cutting interest rates," reports the UK's leading currency broker.
"Either course of action would be likely to hurt sterling
and cause exchange rates to go lower," adds Currency Index.
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