The Pound is under attack today, trading close to the second daily support at 1.6297 against the US Dollar.

[RTFX-Trading]

The Pound is under attack today, trading close to the second daily support at 1.6297 against the US Dollar.

The Pound Sterling is at its worst today, a significant decrease from 1.6460 to 1.6325 against the US Dollar, from 0.8635 to 0.8690 against the Euro and 1.7560 to 1.7450 against the Swiss Franc. The reason for this decline is an article in the British newspaper "Telegraph" which announced today that UK banks need more capital.

The minutes from the last monetary policy meeting of the Bank of England at 10:30 CET could still weigh on the Pound, as investors expect the Bank of England to continue its policy of acquisition of assets, which would indicate that the UK is a long way from leaving the financial crisis behind.

Nicolas Longchamp
RTFX Ltd
Head Office
The Cornerstone Complex, 16th September Square | Mosta MST 1180 | Malta
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