The Pound is losing ground to the Dollar for the seventh consecutive session, trading at $1.298. Sterling’s weakness has been developing in the build-up to today’s Bank of England meeting, where a decision will be made on whether to cut interest rates or not. Investor sentiment is divided with roughly 45% believing the BoE will decide on a rate cut of 25bp. As this stance is already baked into the value of the currency, if the BoE does indeed cut rates there will be more downside to the pound and further losses are to be expected, against both the Dollar and the Euro.
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.