Two months tired of falling nearly 6% Rogers warns of a crash in sterling

BEIJING, February 28, the Greek debt crisis became speculation excuses, drag the euro put pressure has not been eliminated. As markets keep a close eye on the latest developments in the "five European countries" (Portugal, Ireland, Italy, Greece and Spain), international financial giants have been making sterling. Sterling has fallen 5.67% per cent against the dollar since the start of the year, showing a worse performance than the euro's 5% decline, the worst-performing major currency.　　Sterling fell by more than 4% per cent in February alone, one-fold higher than the euro, and it is no wonder that Mr Rogers, the "commodity magnate", warns that the pound is in short-term crisis of collapse. According to the Hong Kong Grand Bulletin, the UK announced earlier that the revised economic growth rate in the fourth quarter of last year, up from 0.1% to 0.3%, confirmed Britain's exit from the recession, but the market was almost unmoved, with sterling falling 1.8% per cent against the euro all week.　　To 89.55, the biggest one-week decline since September 25 last year, down 1.9% against the dollar, falling to 1.5153 in the day, the lowest level since May last year. Countries around the world to launch a variety of economic rescue measures, coupled with the impact of the base effect, the economic end of the recession early in anticipation, the market is more concerned about easing the monetary market, the government can withstand a heavy financial burden. In fact, the ONS disclosed earlier that the January budget deficit was 4.3 billion pounds, much worse than the market's estimated 2.6 billion surplus, and the first budget deficit since 1993.　　In addition, Britain's fiscal deficit last year accounted for about 11.8% of GDP, and this year it is expected to rise further to 12.5% per cent compared with Greece's current 13%. The government faces huge financial pressure to raise € 53 billion in Greece this year, with 20 billion euros of bonds due to be redeemed this May, according to Bloomberg statistics. Greek Prime Minister George Papandreou earlier admitted that Greece had only enough cash to go into the March. However, Germany, the eurozone's largest economy, has indicated that it is considering buying Greek government bonds through the state-owned KFW Development Bank, involving an estimated € 25 billion trillion.　　Robert Lynch, head of foreign exchange strategy at HSBC in New York, said that although the news had not yet been cashed, the euro was technically oversold and there was a clearer message to support the euro. As for Britain, the Bank of England's ever-expanding monetary easing has been adversely affected by the European credit crunch. Bank of England officials have threatened a new round of measures to spur the local economy. In other words, Britain not only extinguishes the red, it may even form a snowball effect. In addition, the British Parliament will be in the election this year, the market generally believe that the pre-election policies will not change significantly, which may allow the problem to worsen.　　The ECB's monetary policy meeting this week was widely expected to keep interest rates unchanged and investors expected the UK bank interest rate to remain at 0.5. Rogers warned the market last week that global problems remained unresolved, and that the rise in the stock market in recent months did not match the reality. In addition, the pound may collapse in the next few weeks, while the British government relative to EuropeYuan more monetary autonomy, but the face of fiscal deficits and depreciation can not help, more importantly, it is possible to detonate the global economy into another winter, the situation may be more serious than the 2008-2009 period. Last month, U.S. home sales fell, the second largest ever, and the Greek debt crisis became clearer, dragging the dollar against the euro and the yen, such as the main currency pressure. The euro rose 0.6% to 1.3631 per cent a day against the dollar and Rose 0.5% to 121.26 against the yen, slightly 0.1% to 88.97% against the yen.　　The euro lost about 2.2% against the dollar in February and the dollar depreciated 2.1% against the yen, compared with 5.1% and 4.7% per cent at the start of the year. The dollar is softening, but the U.S. macroeconomic data is keeping up, rekindling expectations of increased demand for crude.　　The New York oil last Friday closed at $79.66 a barrel, rising 1.49 U.S. dollars a day, and a total of 0.5% a week, while the entire February oil price recorded 9.3% of the increase, creating the best performance of the month since last May. The oil price forecast for 6.7% to 83.5 U.S. dollars this year, and increase the world's daily oil consumption to 86.3 million barrels, to reflect the decline in inventory and other basic factors change.　　Christopher Bellew, a commodity-trading trader Bacje Senior trader, recognized that the global economic performance was skewed and therefore supported the future of oil prices. The decline of the dollar led to gold, but the overall market conditions quiet. New York's gold period rose 10.4 U.S. dollars per ounce, at $1118.9 a day, with a range of between 1104.6 and 1119.5 dollars a year. In February, the price of gold rose by only 3.3%. Commercial futures trader Tom Bentz points out that investors ' worries about the economic outlook also pose some psychological pressure on the commodity market.