Sterling tumbles on King comments
Written November 11, 2009 at 6:06 AM EST by Vincent Facchino
Bank of England’s King states:
-We’re not seeing great credit expansion
-It would be peculiar to worry on asset prices
-Asset prices still below level reached in peak
Gbp/Usd was severely sold of on these commnets which were made just after positive inflation data from Bank of England. The pair traded down to 1.6617. Currently we are off 140 pips from high at 1.6650.
Categories: Forex News | Tags: GBP
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