Trade Forex as the Pound Hits Highs and the Euro Weakens

LONDON, May 4, 2012 /PRNewswire/ --

Trading forex with City Index enables investors to benefit from changes in the global currency market by taking a position on 37 currency pairs.

Towards the close of trading last week (Friday 27 April 2012), Reuters reported that the British pound had hit two-and-a-half-year highs as investors seeked solace away from the negative economic impact of the Spanish downgrade on the euro.

The pound was boosted towards the 80 pence per euro mark, which could suggest that investors in the foreign exchange market are finding the UK economy's double-dip recession less of an issue than the eurozone's ongoing debt problems and political uncertainty.

Alex Lawson, senior broker at Moneycorp, stated to Reuters: "There is an element of safe haven status for sterling now. If investors want to invest in Europe but don't want to risk Spanish or Italian bonds then the UK is a good proxy,"

Forex Trading Benefits - City Index

Through City Index you can trade forex on over 37 currency pairs, including major, minors and exotics.

Offering investors the upper hand over their competitors in this US $4 trillion per day global financial market, a suite of professional and powerful online, downloadable, mobile and tablet based trading platforms are available.

Through their City Trading FX™ mobile application, investors can trade forex from virtually anywhere in the world - across iPhone™, Android™ Mobile and Tablet devices.

Start Trading Forex Today

It's quick and easy to apply for a forex trading account with City Index.

Through their website, you can access a suit of trading education tools and resources - as well as a risk management tools for limiting losses whilst trading.

It is important you remember that as a leveraged product, trading forex can result in losses greater than your initial deposit. Ensure you fully understand the risks involved.

About City Index:

Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform.

As a group, we transact in excess of 1.5 million trades every month in over 50 countries. We provide access to a wide range of instruments including margined foreign exchange, CFDs and, in the UK, financial spread betting.

We constantly look to improve the performance of our platforms and expand our range of services. The result is our customers benefit from innovative trading tools with transparent pricing, competitive spreads, and a high standard of customer support. Visit for details.

SOURCE City Index