September 2012

GBP/USD Trades Stronger on Bailout Program Approval, Moody Downgrade Threat

The UK pound continued to trade stronger against the US dollar on the back of positive forex news paving the way for the implementation of the eurozone’s bailout program. The GBP/USD currency pair reached 1.6131 in US morning trading, its highest level since May 11, before it consolidated at the 1.6095 level. The currency pair

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Euro Surges to 1.29, Poised to Rise further Amid the German Court’s Approval of the ESM

With the highly anticipated approval by the German court of the ECB’s restructured bond buying program which it calls the Economic Stability Mechanism, a bailout package is essentially in place to aid debt burdened member countries. As a result, the Euro surged against the U.S. Dollar and remained above the 1.29 level. According to reports

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