Despite some gains during early Friday trading, the Pound is on course for the worst week in 2 years, having lost almost 2.5% to the US Dollar. Sterling weakness reflects the end of the post-election optimism; many investors believed a comfortable conservative majority would drive a flexible stance from the new government, in its negotiations with the EU.
Photo by Jannes Van Den Wouwer.
However, the firmness of Boris Johnson’s unwillingness to extend the transition period signals the opposite, meaning that, come December 31st, 2020, we may potentially have an abrupt UK exit from the European Union. So, even though the political uncertainty about Brexit is gone (definitely happening), economic uncertainty over its final shape persists, which is bad news for 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.
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© 2019 High Leverage FX - All Rights Reserved.