The Pound is once again on the backfoot, both against the Euro and the Dollar. This follows yesterday’s recovery, on the back of news that opposition leaders had agreed on a strategy, to prevent a no-deal Brexit. The markets regard no deal as the worst possible outcome for the British economy and news that there will be a cross party effort to counter Prime Minister Johnson’s plans to leave on the 31st of October no matter what, were enough to fuel Sterling gains of nearly 0.5% to the Dollar.
However, these gains have been completely cancelled during early Wednesday trading, as reports emerge that Boris Johnson will ask the Queen to suspend parliament from mid-September until mid-October; a move seen as a way to ensure his plans of a no-deal Brexit are executed, without interference from MPs opposed to such an outcome.
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.