U.S. dollar rally continues on the currency market

The sterling continues to fall in forex trading against the U.S. dollar on the currency market. Yesterday, the greenback saw some serious gains as political surprises and economic uncertainty sent forex traders scrambling for a safe haven.

While trading is a little more subdued today, sterling is still down in forex trading against the U.S. dollar. China is still providing some uncertainty, with its likelihood of continued money tightening, and that has risk appetite suppressed.

On top of that, matters for the sterling are not being helped by the fact that U.K. debt continues to rise. Concerns about the amount of public debt had in Britain are weighing on the U.K. pound.

There are hopes that the sterling can make some solid progress going forward, but evidence of economic recovery is needed first, and Britain has to prove that it isn't on the same road to financial ruin as Greece.

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