The Great Britain pound dropped today, extending its losing streak against the euro and the Japanese yen for the fourth consecutive day.
The sterling remained soft after yesterday’s monetary policy meeting of Britain’s central bank that showed unwillingness of policy makers to embark on monetary tightening. The outlook for tighter policy was the major component in the currency’s strength, and without it the pound is very vulnerable. The UK currency was trying to hold its ground versus the US dollar yesterday, but retreated today as traders were counting on solid non-farm payrolls. GBP/USD dropped from 1.4588 to 1.4540 as of 9:59 GMT today. EUR/GBP rallied from 0.7682 to 0.7696. If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below. http://www.earnforex.com/news/2016/02/05/great-britain-pound-extends-losing-streak/