British pound currency is losing value again


The British pound lose 150 pips for a day against the dollar

September, 18, 2007

The crisis with the fifth largest mortgage lender in the U.K. “Northern Rock” shows the tendency in the pound trading. Most of the investors run away by the British pound as consider that the crisis will spread over the other banks and the whole banking and mortgage sector. The pound lose more than 150 pips for the first business day by this week. The pound is in losing trading already for third day. For this period the pound lose about 400 pips against the dollar. The forecast is for continue losses as the forecast is for levels down to 1.97 and 1.9650 where is forming key support level. *******