Daily Forex Commentary for July 10, 2009

July 9th, 2009 • Related • Filed Under




July 10, 2009

Bank of England Refrains from Increasing Quantitative Easing

After a six-day selloff, the British Pound is finally attracting buyers. Fundamentally this market has been getting beat-up since June 30th when an economic report showed that the U.K. economy had its worst quarter since 1958. Since then there have been signs that the economy is improving. The service sector is beginning to show growth, housing prices have stabilized and inflation is running ahead of the Bank of England’s target.

Despite these small signs of recovery, the Bank …
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