Daily FX Commentary
This report has been deactivated

0

0
Daily FX Commentary
Thu, Feb 26 2009, 13:23 GMT
Investica Ltd
Banks continue to dominate Sterling
Sterling was unable to break above 1.46 against the dollar during Wednesday and weakened sharply during the day with a low below 1.42. Sterling also retreated to beyond 0.89 against the Euro.
Comments from Bank of England officials were generally downbeat with Blanchflower warning over the risk of a protracted recession and worsening conditions. There were also renewed fears over the banking sector as the government prepared to launch a bank stabilisation plan with the expectations of a huge public debt burden an underlying negative factor for the currency.
Sterling was trapped close to 1.42 in early Europe on Thursday as the Nationwide reported a further 1.8% decline in house prices for February. The Royal Bank of Scotland posted losses of over GBP25bn, although confidence was supported to some extent by the plans to place bad loans in a government-supported insurance scheme which will help stabilise the sector in the near term.
Bank of England Governor King stated that the bank had been powerless to avert the banking crisis
Published on
Thu, Feb 26 2009, 13:24 GMT
Archive
- Daily FX Commentary
Published On Mon, Apr 20 2009, 13:05 GMT
- Daily FX Commentary
Published On Tue, Apr 14 2009, 14:16 GMT
- Daily FX Commentary
Published On Wed, Apr 8 2009, 13:09 GMT
- Daily FX Commentary
Published On Fri, Apr 3 2009, 11:47 GMT
- Daily FX Commentary
Published On Mon, Mar 30 2009, 15:36 GMT
[ View All ]
Investica Ltd
http://www.investica.co.uk | tim.clayton@investica.co.uk
Legal disclaimer and risk disclosure
Investica's market analysis is not investment advice and must not be taken as recommending particular market positions. Investica can take no responsibility for any actions taken by investors.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our
user agreement. Please read our
privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
©2009 "FXstreet.com. The Forex Market" All Rights Reserved.