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[grunwald]

Is it my imagination, or have last few days brought up an increase in Pound negative rumors? I’m not talking about news, like the ones involving Prime Minister Gordon Brown and his cabinet, that calls for his head, well, resignation. No, what I’m referring to is the sudden jump in panic like statements about GBP on investment forums and news letters. They go something like “New Pounding of the Pound ahead!” or “Pound falling hard” or something like that. Typical reason given for this reasoning is the spending scandal with connection to high ranking cabinet members and, of course, increased level of public debt. This, by the way, is the very same reason behind S&P’s negative outlook for British debt from couple of weeks back. GBP shrugged that off and kept on climbing. Perhaps the debt angle is not that bad for the Pound after all? Here is a table of public indebtedness in some of the developed countries. This data was reported by IMF.

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[vilas]

Originally Posted by grunwald

Is it my imagination, or have last few days brought up an increase in Pound negative rumors? I’m not talking about news, like the ones involving Prime Minister Gordon Brown and his cabinet, that calls for his head, well, resignation. No, what I’m referring to is the sudden jump in panic like statements about GBP on investment forums and news letters. They go something like “New Pounding of the Pound ahead!” or “Pound falling hard” or something like that. Typical reason given for this reasoning is the spending scandal with connection to high ranking cabinet members and, of course, increased level of public debt. This, by the way, is the very same reason behind S&P’s negative outlook for British debt from couple of weeks back. GBP shrugged that off and kept on climbing. Perhaps the debt angle is not that bad for the Pound after all? Here is a table of public indebtedness in some of the developed countries. This data was reported by IMF.

Read more on FXMadness.com

If you want to make money, trade the Pound, Man, Where can it go ? 1.50 ? 1.49 ? Then ? Back Up. If you had traded Pound, from middle of April to now, you would be up 100% ! But then.......... it could be other way too ! That is what makes it GREAT.