Despite some weakness against both the Dollar and the Euro during Asian trading hours, the Pound is back on the front foot during early trading in Europe. Sterling’s volatility stems from the admission into hospital of Prime Minister Boris Johnson and by a timid global resurgence in risk appetite. Unless his condition worsens, news regarding the Prime Minister’s health is unlikely to have a long-lasting effect on the behaviour of the Pound, as illustrated by the sudden change of direction that followed the start of trading in Europe.
Sterling is up by more than 0.5% against the Dollar due to a recovery in risk appetite, which is also reflected in other risk-related assets such as stocks. It appears that the draconian measures to contain the spreading of the coronavirus are starting to pay off, with the main European epicentres for the disease recording lower numbers in infections and fatalities. Amidst the doom and gloom of the last few weeks these may be feeble rays of hope but are good news nevertheless with investors quickly grabbing hold of them.
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.