The Pound has lost more than 0.5% to the Euro since the opening of yesterday’s trading session. Sterling’s weakness occurs as a reaction to declarations by David Frost, a leading British diplomat, that the UK will not align itself with the EU in environmental issues and labour rights.
Investors reacted with dismay, to the words of the UK’s chief EU negotiator, as his stance raises the chances of there not being a trade deal in place between the EU and Great Britain at the end of the current transition period, because the EU made it clear in the past that adhesion to the so-called level playing field is paramount to the future relationship between the two blocks. This could just be a case of both sides flexing their muscles ahead of the negotiations but, with only 10 months left in the transition period, it is easy to understand why investors are shorting sterling, as the chances of Britain crashing out without a deal have just increased.
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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