The Pound is under renewed pressure, following the Friday morning release of GDP figures, showing a contraction of 0.2% in the second quarter. This is the first time, since 2012, that the UK economy contracts quarter on quarter. These numbers are likely to have a compounding effect on an already negative outlook for Sterling, justified by investors’ anxiety, which is fuelled primarily by uncertainty over the outcome of Brexit and increasingly higher probabilities of no-deal.
Photo by Kevin Grieve.
A hard Brexit scenario is widely seen as the worst possible outcome for the process; a sentiment likely to strengthen, following the publication of these latest GDP figures, as it becomes clear that the country’s economy is deteriorating, and Brexit-related damage can no longer be dismissed as scaremongering.
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.
© 2019 High Leverage FX - All Rights Reserved.
© 2019 High Leverage FX - All Rights Reserved.