The euro lost further ground to the pound during early Friday trading, continuing the trend of earlier sessions that has seen the single currency losing more than 1% to sterling since Monday. The relative success of the UK’s vaccine rollout contrasts with the, so far, suboptimal progress of the European program. The slow pace of the vaccine deployment orchestrated by Brussels is triggering fears of a slower than expected economic recovery in the EU, while on the other side of the channel the picture looks rosier, with hopes that Britain may have vaccinated its entire adult population by July. This scenario is, supporting the pound and punishing the euro, especially after the Bank of England indicated yesterday that negative rates will not be deployed in the short- to medium-term. Meanwhile European economic data, such as German factory orders, point at a double dip recession triggered by the latest wave of lockdowns.
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.