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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