Wednesday, March 6, 2013

Sterling Rally Is Still Fragile

Rally Sterling Masih Rapuh

Monexnews-Sterling strengthened on the London session over the continued action of the bargain-hunting after the sharp fall in the last two weeks. However, sterling is still fragile rally with the increasing prospect of monetary easing further from central bank of the United Kingdom. BoE's Monetary Council members, David Miles, said the central bank would have to add to the stimulus and assess other policies to support the economy of the United Kingdom. BoE Minutes, which was released February 20, BoE's Miles, BoE's appointed King, and Fisher wanted additional BoE's stimulus as much as £ 25 billion to £ 400 billion.

GBP/USD is now traded away from 1.5300 1.5130; the lowest level since July 2010 the written yesterday. However, the rally seems to be limited where sterling traders see demand for selling sterling in the range up to 1.5350 1.5320. Analysts are also quite skeptical with sterling performance for the long term, especially with the possibility of United Kingdom will lose its AAA credit rating. (fr)

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Title Post: Sterling Rally Is Still Fragile
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Author: Mohammad Zulfi Satriawan

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