Posts Tagged ‘UK Trade’
Forex Trading – “Cable” is Ready for Correction
Wednesday, August 12th, 2009The Cable British Pound climb up as the first of March has been nothing short of spectacular: “Improving economic data have helped the Cable advance 14 percent versus the US Dollar this year and 12 percent versus the Euro.” Due mainly to a recovery in risk appetite and the concomitant belief that the Cable had been oversold following the onset of the credit crisis, investors began pouring hot money back into the UK. As recently as two weeks ago, one analyst intoned that, “Longer term, we’re in part of an uptrend for the British Pound. I do not think this is over.” (more…)
