The Pound is down by 0.7% from the 8-month high of $1.3214 reached on Tuesday. This price action follows the publication of the most recent poll, which shows the Conservative majority shrinking to half its previous size. According to the latest large survey of British voters, Boris Johnson is still likely to obtain a majority, albeit a much smaller one. Most importantly, such a result is now within the statistical margin of error and another hung parliament cannot be ruled out.
The recent support found by Sterling arose from expectations of a Conservative majority in parliament that would deliver a swift withdrawal from Europe, followed by constructive negotiations with the EU over a post-Brexit trade deal. Another divided parliament would be likely to prolong the uncertainty over the outcome of Brexit, representing more downside risk for the Pound.
Photo by Jannes Van Den Wouwer.
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.