British Pound Continues to Slip After BoE's QE Extension Announcement.Summary: GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. extended its recent losses, with Cable recording 1.6724 lows, while EUR-GBP pushed up to 0.8590 highs. GBP is suffering from Thursday's surprise increase... GBP extended its recent losses, with Cable recording 1.6724 lows, while EUR-GBP pushed up to 0.8590 highs. GBP is suffering from Thursday's surprise increase in the BoE quantitative easing Quantitative easing was a tool of monetary policy that the Bank of Japan used to fight deflation in the early 2000s. The BOJ had been maintaining short-term interest rates at close to their minimum attainable zero values since 1999. program, which exceeded the most bearish Bearish Words used to describe investor attitude. A bearish investor believes that a particular asset or the market as a whole will decline in value. bearish expectations. Meanwhile, today's earnings result from RBS RBS Royal Bank of Scotland RBS Role Based Security RBS Rollback Segment RBS Rare Book School (University of Virginia) RBS Rural Business Cooperative Service RBS Ribosome Binding Site (genetics) also added to the offer intra-day after it said that its results were likely to be poor for the next two years after reporting a net loss of GBP 1 bln for the first half of 2009. Cable stops are noted under 1.6700, while there is heavy hedge fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" demand for EUR-GBP strikes between 0.8580 and 0.8600. GBP is expected to remain heavy after yesterday's weak assessment from the BoE, while some analyst suspect that the surprise move could have been a move to keep the level of GBP pressured. Next week's BoE Inflation Report will shed more light on the Bank's outlook, which based on Thursday's statement should remain cautious. 2009 Al Bawaba (Albawaba.com) Provided by Syndigate.info an Albawaba.com company |
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