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Thrilling Currency Market: After Euro Now Pound Focused

Euro Shows Stability After Good Economic Data, British Pound Could Continue to Decline

 
PRLog - March 4, 2010 - BAECH, Switzerland -- Baech (Switzerland), March 4, 2010 – Indeed, the euro decreased to a new nine-months-low on Tuesday morning but due to the encouraging economic data, these losses have been outweighed over the week. However, the decline of the British pound could continue, currency traders increasingly perch on devaluation of the sterling. Moreover, bad economic outline data and political uncertainties lead to investors’ negative mood.  

Great Britain’s debts have increased in the course of the financial crisis; the budget deficit for this year is expected to be 12.6 percent of the gross domestic product (GDP). To compare: this is approximately the size of the Greek national deficit. The financial future of the United Kingdom looks even more pessimistic: the European Commission estimated the British federal deficit up to 88.2 percent of the GDP until 2011. “In contrast to Greece, the British government has got more course of action and with an independent currency, Britain’s economy has got a big plus,” comments Bernd M. Otto of Investment24 Research. “Nevertheless, the growing debts are a serious problem for Great Britain as well as for pound’s stability.”

Beside these economic difficulties there are political imponderabilia. According to the latest polls regarding June’s election, the dismissal of the Labour Party is not for sure anymore as both political wings almost equal at present. A stand-off could threaten the House of Commons and the chances of effective measures to cut the budget deficit diminish.      

The Bank of England acts ambivalent on this matter: it indeed leaves the prime rate at 0.5 percent after today’s decision (March 4), but governor Mervyn King recently announced in public to reactivate the bank’s note printers after a break in February. “Of course, all these issues have a negative impact on the British pound. Whether a further depreciation of the pound will follow after the last decline is, nevertheless, unsure,” states Bernd M. Otto, CEO and founder of Investment24.  
   

Media Contact:
Investment24 AG
Uwe Scheunemann
Seestr. 67, 8806 Baech, Switzerland
Phone +41 44 8870091
media@investment24.com


About Investment24:
Investment24 AG, based in Switzerland, provides quality information about interesting opportunities on world stock markets. The company not only demonstrates a positive performance in excess of 350 percent since July 2007, but it also offers a high degree of transparency. This is in sharp contrast to other stock market or financial services newsletters. All transactions are explained in detail, and are provided with background information. These results are achieved with professional risk and money management. CEO and editor of the stock market letter is Bernd M. Otto, supported by experienced staff.
www.investment24.com

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Investment24 AG, based in Switzerland, provides quality information about interesting opportunities on world stock markets. The company not only demonstrates a positive performance in excess of 350 percent since July 2007, but it also offers a high degree of transparency. This is in sharp contrast to other stock market or financial services newsletters. All transactions are explained in detail, and are provided with background information. These results are achieved with professional risk and money management. CEO and editor of the stock market letter is Bernd M. Otto, supported by experienced staff.
www.investment24.com

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Source:Uwe Scheunemann
Location:Baech - Schwyz - Switzerland
Industry:Business, Banking
Tags:great britain, crisis, pound, bernd otto
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