The Pound touched year lows against the Dollar on Tuesday, trading below $1.2490. Sterling’s fall is explained by ongoing Brexit uncertainty and a slowdown in economic activity.
Construction and manufacturing activity contracted in June and a survey of economists point to a shrinking of the UK economy in Q2 2019, something that is happening for the first time since 2012. It is therefore very likely that the Bank of England will follow other major central banks and embark on a new programme of stimulus, which is likely to begin with a rate cut. The stars are aligned, and we should expect some rough times ahead, for the British Pound.
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.