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May 25, 2012 02:56PM GMT
     
 
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GBP/USD- Largest Fall In Consumer Confidence

By   |  Technical Analysis  |  Jan 31, 2011 03:06PM GMT  |  Add a Comment
 
The Pound Sterling lost some of its strength as data suggested a drastic drop in Consumer confidence, in fact, the worse since 1994. The country is also concerned about the government’s austerity measures and this has translated into the negative figures. The astonishing dip was certainly due to the hike in V.A.T which went from 17.5 percent to 20 percent. Speculations that the BOE may not increase interest rates continue to be strong.




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