The British pound went down versus most of the 16 main traded currencies this Wednesday after Bank of England officials affirmed that a weaker pound can boost the economic recovery in the nation, shunning traders from pound priced assets.
After Bank of England posted statements indicating that the inflation will remain below the 2 percent target for an extended period and Mervyn King affirmed that a weak pound can help the British economy to escape from the worst recession in its modern story, the pound declined consistently versus most of its rivals on
GBP/USD traded at 1.6554 as of 18:01 GMT from a previous rate of 1.6737 yesterday.
If you have any questions, comments or opinions regarding the Great Britain Pound,
feel free to post them using the commentary form below.
Be First to Comment