Corporate foreign exchange news

Forex market news: Pound stance neutral

Monday, 19 October 2009 09:40:04 GMT

Foreign exchange analysis site Daily FX has offered a neutral outlook on the pound for the coming week, with upcoming Q3 gross domestic product (GDP) figures expected to play a pivotal role in the currency's trading direction.
In last week's trading, the pound surged on the back of a statement from the Bank of England's markets director Paul Fisher, who told the Financial Times that policymakers are reluctant to increase the scope of the asset purchase programme, which currently stands at £175 billion.
"Just to give some perspective as to the strength of this rally, the sterling set its biggest one-day advance against its primary counterpart (the euro) in eight months," said Daily FX analyst John Kicklighter.
Many traders had anticipated that the Bank would increase the controversial quantitative easing programme this month after a slew of weak economic data emerged.
However, the group vowed to keep the programme on hold for a second consecutive month, having increased the scheme by £25 billion in August.ADNFCR-2522-ID-19414139-ADNFCR
Logo

Speak to one of the team

Please get in touch.

Contact details

Corporate FX
5th Floor, 62 Cornhill
London, EC3V 3NH
United Kingdom
Tel: 020 7743 7000
Fax: 020 7743 7001
Email: info@corporate-fx.co.uk

Contact us / Feedback

Thanks for contacting us

Map and directions

We are situated in the heart of the city of London.

Nearest tube/DLR stations:

Bank
Liverpool Street
Aldgate
Monument

Nearest mainline rail stations:

Liverpool Street
Fenchurch Street
Cannon Street

Global Reach Partners Limited; Registered in England No. 4344764. Registered for Money Laundering Regulations and Money Services
Business at Her Majesty's Revenue & Customs registrations No. 12140164. Supervised by the FSA in accordance with the payment
services regulations 2009, registration No. 504315.
© 2009 Global Reach Partners. Site credits