Posted by: Babu Suresh | September 20, 2009

GBPUSD-200909

Hello Friends,

Hope everyone is enjoying the weekend.

GBPUSD-200909Pound saw a good correction this week as foreseen; only this time the blame was put on Lloyds Bank. As usual, the media sounds as though the whole fate of Pound will be decided by the Lloyds bank’s fate. On the other hand, way back in June 09 itself Lloyds started blaming President Obama for his new Income Tax plans and gave all the indications of their impending new troubles – http://tinyurl.com/LLoydsBank

Banks like LLoyds which have been enjoying the blessings of Americans for all these years without any foresight and have been riding the ride they didn’t realise would one day put them in a perilous situation, have no choice but to face the tune. It’s GBPUSD-1-200909going to be another interesting situation to see how long British govt. and BOE would support these banks with their current plans and at the same time manage to bring down the value of their currency, give life to their economy. 🙂

I am still and will always be thankful to Oct. 2008 for, the crash had brought to limelight the real strengths and weaknesses of these so called powerful institutions which were functioning for ages in a reckless manner taking things for granted. I will also be looking forward to UK working closely with EU than ever before since they realize now, they can no longer depend on US and dictate their terms.

Healthy And Wealthy Weekend

Healthy And Wealthy Trading

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