GBP Depreciates after Consumer Spending and Business Investment Data

August 27, 2009 Share Print 0

From Bloomberg:

The British currency also traded near the weakest level since June against the euro after a government report showed business investment slumped by the most in 24 years in the second quarter. An index of U.K. retail sales fell in August, the Confederation of British Industry said. The Bank of England extended its asset-purchase program this month to pull Britain out of its worst recession in a generation.

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.