It will be difficult for the pound to stay against the greenback

It will be difficult for the pound to stay against the greenback

Posted on October 11, 2017, 12:09 PM

On Wednesday, the greenback is traded in different directions, but without any serious changes. The British currency has been under pressure for three weeks.

The news on Theresa May under pressure from opposition and her answer on the point that she wouldn’t manage to protect the country from terrorism became an additional negative of the last days.

Under the influence of these events and the greenback position's strengthening, the sterling has considerably lost its positions in September and at the beginning of October. But in the last two trading sessions it is getting support together with the greenback in the forefront of the American currency suspension for strengthening waiting for the publication of inflation and retails data which will come out this week. Moreover, the GBP/USD currency pair has grown up because of partial profit fixing.

Dmitriy Wainer

NewForex analytics department

 

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