The Pound remains under pressure, despite a modest recovery against other major currencies during early Wednesday trading. On Tuesday Sterling touched its lowest in more than 2 years, as the probability of a no-deal Brexit continued to increase.
The rhetoric, on both the EU and UK side, indicates an unwillingness to shift from their positions; the UK demands the scrapping of the Irish back stop arrangement, while the EU refuses to even re-open the negotiations on the agreement, established with the previous British government. The Brexit issue is now the great determining factor in the performance of British assets, the Pound in particular. Therefore, the risk ahead is very much to the downside, because it is unlikely that a smooth solution will be found in the short term.
Photo by Frederic Koberl.
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.