Fourth quarter in favor of Pound Sterling
On October 24th , Bank
of England
Governor, Mark Carney announced on an easing of rules for banks in
need of short-term cash and promised financial support to the British banks.
Prime Minister David Cameron
has announced on the 9th World Islamic Economic Forum in London that the UK will become the first non-Muslim
country to issue an Islamic bond. And he plans for a new Islamic index on the London Stock Exchange. This
would be an opportunity to discover new strategies in finance , but also to
strengthen financial ties between Britain and the Muslim world . The
planned issue is worth around 200 million pounds, and Islamic investments
globally are expected to be more than 1.5 billion.
British chancellor George Osborne went to Beijing to support relationship between Britain and China. So there is no doubt that Britain remains the most open market to Chinese investment Western countries.
In addition, the UK GDP growth rose to 0.8%, which is the fastest growth for three years.
As a consequence, the encouraging
signs of the British economy will boost the Sterling, and it is expected that the fourth
quarter will be very promising.
