On Tuesday the Pound hit the lowest level against the US Dollar in more than 2 years. Sterling weakness results from increased chances of a no deal Brexit, which is seen by the markets as the worst possible outcome for the ongoing process.
Since Boris Johnson became prime minister the UK stance towards the negotiations became harder, demanding a new withdrawal deal; but the EU is refusing to renegotiate the existing agreement. The stand-off between the parts is leading to an increased likelihood of a chaotic exit from the EU on October the 31st, adding uncertainty about the future shape of the British economy and keeping the Pound under pressure.
Photo by James Giddins.
Has undertaken a number of senior roles in his current employer including running the international desk, responsible for managing sales, customer services and marketing functions for a number of territories, as well as acting as a regular public speaker at events and contributor to TV and other media through interviews and market analysis. Since November 2016 he has been the Senior Executive Officer (SEO) of ActivTrades Dubai branch, having overall management responsibility of the branch. Prior to joining ActivTrades Ricardo worked in the IT and Financial industries.
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© 2019 High Leverage FX - All Rights Reserved.