Pound Weakens Ahead of G-20 Meeting

The Great Britain pound fluctuated today against the US dollar and the Japanese yen after it dropped earlier on the outlook for so-called quantitative easing by the Bank of England.

The pound also weakened against the dollar on the speculation that on the G-20 the policy makers would discuss measures to prevent devaluation of the currencies across the world. Of course, the outcome of the meeting is unclear, but the uncertainty also plays in favor of the “safer” currencies, while weakening the riskier ones, including the pound.

GBP/USD went from 1.5703 down to 1.5683 today as of 14:44 GMT, while GBP/JPY fell from 127.70 to 127.52, following the drop to 127.07.

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