Friday, March 22, 2013

Short Covering Menyelamatkan Sterling

Short Covering Menyelamatkan Sterling

Monexnews-Sterling continues to move away from its lowest position 33-months against the U.s. Dollar as some investors reduced the portion of a short position on the United Kingdom's currency while doing a profit taking. However, a number of traders assess if Sterling's appreciation triggered by short covering that tend not to last long, given the lingering worries about the economy and expectations that the United Kingdom Bank of England will do more to encourage asset purchase economy.

"On the side of investors, they look reluctant to sell at current levels. What's with the Sterling/Dollar that has mired deeply in, "said Michael Sneyd, forex analyst of BNP Paribas. He said, the currency pair it is possible to make profits ahead of the budget of the United Kingdom on 20 March. "Investors are in no mood to take a long position Sterling/Dollar given the BoE Policy Committee which tend to add monetary stimulus." (vid)

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Title Post: Short Covering Menyelamatkan Sterling
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Author: Mohammad Zulfi Satriawan

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