Sterling drops against 17-nation currency
UK pound is lower against the euro in forex trading today, dropping as concerns about the British economy acquire prominence. The British economy, which appears to be struggling, stands in contrast to the eurozone economy, led by a Germany that appears to be seeing improvement.
Euro is also higher in general as commodities and other risk assets rise on the latest from the US Federal Reserve. With so much risk sentiment, euro is doing well indeed. And with so much confusion over the British economy, it is now surprise that the sterling is lower.
For now, EUR/GBP is gaining. However, Greek debt worries could change things around again, sending the euro lower against the pound in forex trading. It will be interesting to see what happens next.
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