Pound Sterling Currency still Remains Poor
Pound Sterling Currency Remains Poor
Businesses in the UK that use the pound sterling when dealing with suppliers from across the world may be in need of foreign exchange rates specialist help in 2011, as the outlook for the pound sterling currency remains poor.
Reuters reports the British money is looking "fragile" as the new year approaches and the future is bleak.
Despite this, sterling managed to strengthen its position against the US dollar by 0.3 percent in early morning trading today
The positive day came on the back of sustained demand from Asia, although the news source notes the money still hovered close to its three-month low.
Kenneth Broux, the market strategist at Lloyds Banking Group, is quoted as saying: "I see lots of risks to the outlook for sterling going forward. It's lost ground against virtually every currency in December."
Reuters reported yesterday the pound had hit its worst point against the dollar for a quarter of a year