Tuesday 12 July 2016

The pound is getting stronger

On Tuesday GBP/USD rose to 1.3265, rebounding from a 31-year low of 1.2794 reached last Wednesday.
The pound strengthened position after it became known that Theresa May will take over after David Cameron, easing political uncertainty, that has fallen off the national currency after Brexit.
But the prospects for the pound remain weak amid expectations, that the Bank of England will reduct the rate during the meeting this Thursday.
On Tuesday, the head of the Bank of England Mark Carney said that Brexit negative impact on the UK economy may force the Central Bank to act, which means that the bank is ready to new stimulus.




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