U.S. dollar pummels U.K. pound in forex trading

Fiscal concerns are causing trouble for the sterling in currency trading on the FX market today. Even though data is improving in Britain, fiscal concerns about mounting public data is causing concern, and that is sending the U.K. pound lower in forex trading.

Even as the euro gains ground in forex trading against the U.S. dollar, the sterling is being pounded by the greenback. PIMCO manage Bill Gross warned that U.K. gilts were fragile over the weekend, reports Boris Schlossberg in FX360. On top of that, there are concerns that Britain could end up like Greece.

All of this concern over the U.K. debt situation has investors worried about the pound, and throwing their support to the U.S. dollar in forex trading against the sterling.

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