Sterling gains agains greenback in currency tradingThe U.K. pound is moving higher in [B]forex trading[/B] on the currency market today as risk appetite makes an appearance. High beta currencies are moving higher as equities around the world rally. Indeed, the sterling is seeing some benefit against the greenback in currency trading due to the gains by equities, including the fact that U.S. stock futures point to a higher open.
[B]Retail sales[/B] in October showed improvement, led by auto sales, which are no longer receiving help from Cash for Clunkers. The U.S. dollar is down across the board, with a drop even against the Japanese yen, which is getting support on the strength of GDP growth.
For now, sterling is likely to remain well bid in currency trading. However, troubles in the British economy are far from over, and that could make a difference for the U.K. pound in [B]forex trading[/B] going forward.
[B]See Also[/B]
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[li]Sterling in Currency Trading[/li]Forex trading on the currency market
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