The Constant Fall Of The Pound
The Pound continues to decline versus the Euro for the sixth time. It is dropping to a low 1.1150. According to a report revealed by Moody’s Investors Service, the UK’s Aaa credit rating may be in jeopardy if the government does nothing to achieve the deficit-reduction targets. The Pound also showed a weakening against the US Dollar. The economic growth of UK is showing signs of instability this quarter thus increasing concerns that a reduction in the economy is expected to come until June. There is an assumption that Europe is going to increase rates at the start of July. This could have added to the further weakening of the Pound against foreign currencies.
Excerpt:
“On the foreign exchange markets, the Pound has fallen against the Euro for the sixth consecutive day, heading towards a low of 1.1150.”
Original article can be found at:
http://www.moneyhighstreet.com/foreign-exchange-news/foreign-exchange-the-pound-falls-still-further/
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