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venerdì 26 agosto 2011

Pound Goes Down as UK Economy Slows

The Great Britain pound weakened against the Japanese yen and slowed its advance versus the US dollar after the report showed the UK economy grew with slower pace in the second quarter.

The revised figure for growth of UK gross domestic product in the second quarter of 2011 was 0.2 percent, the same as in the preliminary estimate. It indicates slower expansion, compared to 0.5 percent growth in the first quarter. The report also mentioned that several special events affected Britain’s economy in Q2: the additional April public holiday, the royal wedding and the aftereffects of the Japanese tsunami.

GBP/JPY fell from 126.12 to 125.68 today as of 9:24 GMT and touched the daily low of 125.41 earlier. GBP/USD climbed from 1.6278 to 1.6332.

[forexnews]

4 commenti:

  1. England may have to give up the pound and embrace the crumbling euro

    RispondiElimina
  2. I remember a few years ago when it was 2 dollars to the pound, happy days buying from america on ebay.

    RispondiElimina

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