The Pound is up against both the Dollar and the Euro, following the Bank of England’s surprise announcement of a rate cut and support for bank lending. The unexpected decision is clearly targeting the anxiety generated by a sense of inevitability that the coronavirus crisis will trigger a recession. Sterling’s reaction was immediate, albeit not what normal circumstances would have dictated.
The cut of 0.5% on interest rates instead offered support to the currency, the markets see it as a positive for the economy which, combined with other forms of stimulus from the government, will give the country’s economy more of a fighting chance in the face of the greatest economic challenge since the financial crisis of 2008.
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.