Britain Expands Quantitative Easing By 50 Billion Pounds
Sterling higher in forex trading
Sterling is higher in forex trading today as Britain expands its quantitative easing program. The move has been widely expected, since the British economy remains stuck. The move is supposed to help prompt stimulus.
UK pound is also getting a boost from general risk appetite today. Normally, such easing would put the pound lower against the US dollar, but there is a great deal of optimism now that a Greek debt deal has been hammered out. High beta currencies are doing well today.
Pound is down against the euro, though. While it has had some success against the US dollar today, nearly all the currencies are making way for a jubilant euro. With a Greek deal done, the country won’t default, since it will have the help of ECB and IMF bailout funds.
- Sterling in Forex Trading
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