Latest news on Steep US Dollar declines
| Apparently, the euro has slowly been getting power from the beginning of the month. However, the British pound came under major pressure on Wednesday morning after a round of unsatisfactory UK news. Initially, data indicated that the UK financial system detrimented jobs throughout the month of February as jobless claims increased by 138.4K, the biggest single month increase since record-keeping started in 1971, which drove the claimant count rate up to 4.3 % from 3.9 %. This obviously is not a good sign at all for domestic requirement in the UK, but emphasizes why the minutes from the Bank of England?s conference in March were so bearish. In fact, throughout the March conference, the BOE?s Monetary Policy Committee not only voted generally to cut the Bank Rate by 50 basis points to 0.50 %, but also voted generally to follow quantitative easing. Read More Here
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