1: Open Directory Project | The Web Directory Solution Google+ Economic news: British Pound Rally

Tuesday, May 1, 2012

British Pound Rally

British Pound rallied for 10 consecutive days breaking previous resistance levels before pausing at the 1.63 figure despite bad economic data from the U.K.like low GDP (-0.2) that brought Great Britain to a double dip recession.
Unemployment is also raising at record levels, so what is pushing the GBP so high? Is it just a weak dollar ? Or  international investors from around the world perhaps are dropping the European Bond and buying Guilts?
Here is a chart of GBP-USD (above) and EUR-GBP showing a decline of  700 pips from the October 27th high    


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