Further ‘negative’ outlook for Sterling

Tuesday, 24 May 2011 12:06

UK Data was released with higher than expected results, which this time not good news for the currency.  Public Sector Net Borrowing was released at 7.7 billion from being forecasted at 5.0 billion.  It would have marked good news for the English currency if the forecasted number was greater than the actual number released. 

Sterling is trading even lower than earlier versus the U.S Dollar at 1.6115.