British Pound and US Dollar Exchange rate is now 0.4% lower making 1 GBP = 1.5131 USD. Pound also lost against Euro where 1 GBP = 1.1961 EUR. The British pound has witnessed the lowest level since two weeks early this morning in London. The British Pound Sterling exchange rate has weakened against sixteen major and heavily traded currencies around the world.

The news about economic turmoil and no recovery of British job market has created uncertainty in forex market as investments have turned down to lower levels. The future of Pound sterling is seen as declining due to fewer trade and economic burden.

The UK government was previously warned about the economic conditions which would be faced by it in the matter of no time but the government paid no heed. The Bank of England has currently put at halt the change in interest rates which they believe will lessen the economic burden on middle-men. The forecast of British pound sterling is bearish. It is predicted by Jim Rogers that the UK government had made many mistakes which will now allow it to generate income in the upcoming four to six months. The prediction of Pound Sterling is negative because of the economic trends which have caused the government huge losses and no bailout is expected in shorter terms.

Investors are expected to benefit from the lower pound rates by buying bulk currency in the month of August when the exchange currency will be badly hit by recession.