Have we seen a bottom for the pound_ _ ig ae

Tuesday’s speech from Theresa May laid out a very clear outlook for the UK’s stance in relation to Brexit negotiations, choosing to favour a hard Brexit. In databases a category of data is called a The fear of a hard Brexit has been one of the core drivers of sterling weakness over recent months, with traders highly sensitive to any comments from high level UK and EU politicians. Database wordpress However, Tuesday’s speech threw everything into the open, clarifying the government’s position and negating the harmful conjecture of late.


The result came as a surprise, with the pound rising sharply despite the apparently negative news. Note 2 data recovery Was this a sell the rumour, buy the fact moment? Was it down to the announcement of an eventual vote in parliament, which some feel could scupper the process? Or was it the sheer relief that we can finally lay to rest the fears that have plagued the pound for months?

From an economic perspective, there is certainly good reason to believe we are overdue a rebound, with the UK economy faring well. Tally erp 9 data recovery Falling unemployment, resilient GDP growth and a strong services PMI trend point towards an economy which is faring well despite the fear of the future. Database erd The chart below highlights that typically we see the services PMI and GBP/USD move together, with a period of strength for the services sector typically denoting a strong economy, thus releasing the pressure on the Bank of England (BoE) to ease further. Database google docs However, we have recently seen that relationship come into question, with the pound deteriorating despite a strengthening services sector. Database 5500 Could this mean we will see the relationship come back into play, with either a deterioration in UK data, or else a recovery for the pound?

CFDs are a leveraged product and can result in losses that exceed deposits. Data recovery kit Please ensure you fully understand the risks and take care to manage your exposure.

Trading CFDs may not be suitable for everyone, so please ensure that you fully understand the risks involved. Database meaning IG does not issue advice, recommendations or opinion in relation to acquiring, holding or disposing of a CFD. Gale database IG is not a financial advisor and all services are provided on an execution only basis.

IG is a trading name of IG Limited a company registered at 2702 & 2703 Level 27, Tower 2, Al Fattan Currency House, DIFC, Dubai, United Arab Emirates. Data recovery pc IG is authorised and regulated by the Dubai Financial Services Authority under Firm’s reference No. Data recovery easeus (F001780).

The information on this site is not directed at residents of the United States, Belgium or any particular country outside the UAE and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

banner