The pound continues to fall, ForexWebTrader
The pound continues to fall as concerns remain high that the U.K will be unable to handle its massive debt, and that Europe’s financial problems will spread to the British island. Last week’s higher than expected CPI figure has added to investors concerns.
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The annual rate of consumer inflation rose 3.7% in April, up from 3.4% in March, and well above market expectations of a 3.5% increase.
The GBP/USD spent most of last week trading below the 1.4500 mark. The pair is currently trading in dangerous waters – any negative news from the U.K could very well push the pair below the 1.4000 figure.
On Tuesday, the U.K Bureau of National Statistics will release the nation’s Revised GDP figure.
Forex traders will want to see if the numbers will be revised higher following positive manufacturing sector numbers, or if the recent rise in inflation has sapped GDP growth.
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