Both the Federal Reserve and the ECB began moves to soften the stimulus actions – the start of an exit strategy out of the crisis. This doesn’t happen in Britain. Britain still suffers from a bad data – and this leaves the Pound behind – again. In the monthly rate decision there was no surprise about the rate – European Minimum Bid Rate remained unchanged at 1%. The real news came in the press conference held by Jean-Claude Trichet: Image credit: tetowawki on Flickr Trichet began easing the stimulus means that it used with banks. Here’s a quote from Bloomberg: “The improved conditions in financial markets have indicated that not all our liquidity measures are needed to the same extent as in the past,” Trichet said at a press conference in Frankfurt today after the ECB kept its benchmark interest rate at 1 percent, a record low. “Liquidity will remain extremely abundant for a large number of months to come.” Also in the US, that is still suffering from a terrible job market, and a big deficit, recession is officially over, and also Ben Bernanke began sending his troops home, very carefully: The Federal Reserve conducted a reverse repurchase agreement to test one of the tools for an eventual withdrawal of the central bank’s unprecedented monetary stimulus while stressing that the actions themselves don’t represent any change in policy. In the meantime, Britain is still in recession, also in Q3, as confirmed last week. The Pound got another reality check today, A Services PMI fell back instead of rising. The Pound gave up some of its gains of the past weeks. GBP/USD fell today from 1.6720 to 1.6560. Also, EUR/GBP rose on the Pound’s weakness. I continue to state the Pound is too high. High hopes about the British economy, as expressed for example by Spencer Dale, isn’t backed by the numbers. The Pound didn’t hit the ground yet. European and American exit strategy measures expose the Pound’s weakness. I believe it will lose more value. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading NewsOpinions share Read Next Forex Daily Outlook – December 4th 2009 Yohay Elam 13 years Both the Federal Reserve and the ECB began moves to soften the stimulus actions - the start of an exit strategy out of the crisis. This doesn't happen in Britain. Britain still suffers from a bad data - and this leaves the Pound behind - again. In the monthly rate decision there was no surprise about the rate - European Minimum Bid Rate remained unchanged at 1%. The real news came in the press conference held by Jean-Claude Trichet: Image credit: tetowawki on Flickr Trichet began easing the stimulus means that it used with banks. Here's a quote from Bloomberg:… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.