Sterling Falls in Forex Trading

Pound Sterling latest: Currency trading on the FX marketThe sterling is down in forex trading today as risk aversion becomes the story of the day.
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The GBPUSD is down 0.304% at 3pm GMT with 1 GBP fetching 1.6046 USD.The US stock market has opened lower, and that is pulling some of the fuel out of the fire for the risk trade, thus hurting the Pound. Pound Sterling is also suffering as financing worries become more apparent. GFT's Boris Schlossberg reports in GFTs FX360 on the issues facing the U.K. pound in currency trading on the FX market:

Cable was also kneecapped by yet another rejection by Cadbury of the Nestle takeover offer that weighed negatively on M and A flows. The rise of risk aversion weighed heavily on sterling which is highly sensitive to risk flows given UK economic dependence on capital markets. The fears of a financing crisis is the one factor that could scuttle the nascent recovery in UK economy especially at a time when the BoE considers the possibility of exiting its 200 Billion pound quantitative easing program.