Pound fails to lure investors

pound sterling has been regarded by global investors as one of the ugly three currencies after the euro and the US dollar.
Economic fundamentals are weighing heavily on the currency amid weak economic data, which has since caused all sorts of problems for the British economy. This has also sparked riots and looting across the nation with market analysts predicting a bleak future in terms of recovery.
This scenario has pushed investors to respond to the worsening outlook by pulling money out of the country at a faster pace.
Despite the eurozone crisis the pound has failed to lure investors by giving them confidence to keep their funds within the economy.
Right now the market is bearish on the pound as growth outlook in the eurozone has been considered than the UK.
The pound was little changed at US$1,6287 against the dollar. The British economy is going to take longer and harder to recover as a weak economic data continues to scare away investors.
The pound lost ground on the euro as more bond buying pushed euro to better levels against the pound. It seems the market will sell the pound against the euro. The pound was trading at 0,8788 per euro.
The Swiss franc declined against the euro as the Swiss National Bank continues in its bid to stem any gains. The Swiss strengthening for the past weeks has threatened Nestlé’s profits and has also affected other exporters that why their central bank has decided to take action to stop the rally and not attract more hot money. The Swiss weakened to 1,1109 per euro from 1,0800. The euro’s rally was stalled after German growth almost stalled as markets needs to adjust to slow growth.
The eurozone issue is still a major concern because when you have debt real issues growth becomes a problem.
The euro reached support levels of US$1,4263 per dollar, and was facing resistance at US$1,4390 before breaking out to rally to US$1,4445 per euro, but was stalled on German growth as it opened trading at US$1,4369.
The Australian dollar weakened after Reserve Bank of Australia minutes failed to ease tensions among traders that the monetary authorities failed to quell rate speculation.
“The case against tightening at this meeting was that the downside risks to demand had probably increased, as a result of the acute uncertainty in global financial markets,” read part of the minutes released today by the RBA.
“This in turn could weaken the outlook for demand relative to the central forecast and, over the medium term, dampen the inflation outlook.”
Crude oil dropped from the highest in almost two weeks in New York as investors bet that signs of a slowing global economy indicate fuel demand will falter.

Crude was trading at US$86,66 per barrel after a rally of up to US$87,28 was halted on weak economic data coming from the US as global growth keeps slowing down.
Gold may climb for a second day as physical buyers made purchases after the metal’s drop from its all-time high above US$1 800 an ounce, with a bet on further gains.
The bullion looks set to continue its rally as we go towards the end of the year with huge demand coming from China and India as we prepare for the festive season. Gold was trading at
US$1 772,70 an ounce from US$1 766,20 an ounce.