The Pound is showing weakness against the Euro and the Dollar, on a day when the British Prime Minister visits Luxembourg for talks with EU leaders. Sterling recorded 5 consecutive weeks of gains against the single currency, the best run since 2016 but, as today’s losses illustrate, Sterling isn’t out of the woods just yet: until there is clarity on the outcome of the Brexit process, downside risk persists.
Photo by Annie Spratt.
The Pound’s gains of the last 5 weeks resulted from several setbacks to Prime Minister Johnson and his plans to leave the EU on the 31st October, at any cost, which led many investors to cover short bets against the Pound, driving up the value of the currency. However, all scenarios are still possible; if the chances of a no-deal Brexit increase again we should expect renewed weakness from Sterling.
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.