Nomura: With the approaching referendum pound will be under pressure

Recently, the pound recovered some losses, including against the Canadian dollar, but currency strategists at Nomura questioned the sustainability of improved dynamics.

They believe that in the near future the referendum in the UK will again be the focus of market participants, as it promises to support the growing pressure on the British currency.

In addition, Nomura recalled that at the end of this week will be announced the results of local elections in Britain, as they don't think the results will please investors.

Also, according to the strategy of the bank is worth to pay attention to the fact that the economic statistics began providing more surprises.

At Nomura believe that it is time to think about the resumption of sales of pounds. They add that so the risks of the policy of the US Federal Reserve will be removed.