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16 June, 2008
World Currency Watch with ForexGen
World Currency Watch with ForexGen
The ECB’s and BOE’s rate decisions puts more wind to the back of EUR/GBP!
The Eurozone and the U.K. economies continue to diverge.
For years and years, these two economies followed each other up
and down in “lock step”. Then the credit/sub-prime crisis hit. This
pushed the U.K. economy lower as they experienced the same things that
America experienced: Hedge fund blow ups, banks struggling, housing
prices falling, etc.
On the other hand, many other European banks didn’t have as
much exposure to “sub-prime” as did the “financial epicenter”, the U.K.
So as these economies “de-linked” and continue to diverge, it’s
produced a heck of an uptrend in the EUR/GBP pair. Click on the chart
to enlarge it below.
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