The Pound is falling for the third consecutive day, after more Brexit related tension in parliament and still no clarity being cast over what will be the outcome of the process. The negative effect of Brexit uncertainty on Sterling was compounded after a declaration by one the Bank of England’s leading policy makers, Michael Saunders. Even if a no-deal Brexit is avoided, the BoE may still be looking at cutting rates. This came as a shock – Saunders is known as a hawk, but his stance here was very dovish, resulting in 0.4% immediate losses for Sterling against the US Dollar.
Photo by Andrea Sebastiani.
It appears there is more downside risk ahead for the Pound, which will be driven by Brexit uncertainty, but also by a more dovish stance from the central bank.
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.