The Pound is retreating for the third consecutive day. Overview for 10.06.2016
10.06.2016
The GBP/USD pair is trading downwards; the week end in the dumps.
On Friday, the British Pound is falling against the US Dollar. The current quote for the instrument is 1.4394. After reaching 1.4858, the market hasn’t been able to continue moving higher.
So, yesterday there were televised debates in the UK featuring supporters and detractors of “brexit program”. Brexit detractors were represented by the Prime Minister of the country, David Cameron, and supporters – by Nigel Farage, the leader of the United Kingdom Independence Party. The first one arrived in a motorcade, the second – by the bus with a banner that said “We want our country back”.
Both sides reached out to the British people with plain things: Camron was talking about stability of trade and economic relations, business (jobs creation), and safety in the European Union. Farage was indicative of serious problems with migration flows and financial losses because of the EU regulations. Both facts are plain and simple. Probably, this is the reason why the British people haven’t decided yet which side to choose.
Noteworthy is that the registration for participating in the referendum as closed on Wednesday. This popular vote is unlikely to witness the unprecedented voting turnout or the population’s clear vision of what's it going to be. Nothing is certain, and it means that the future may be rather volatile for the Pound.
There is no more news relating to this. Future surveys will show approximately the same results as in the past: opinions went in halves, as the British people don’t have clear decision. The main point right now is not to leave such topical issue to chance.
RoboForex Analytical Department
On Friday, the British Pound is falling against the US Dollar. The current quote for the instrument is 1.4394. After reaching 1.4858, the market hasn’t been able to continue moving higher.
So, yesterday there were televised debates in the UK featuring supporters and detractors of “brexit program”. Brexit detractors were represented by the Prime Minister of the country, David Cameron, and supporters – by Nigel Farage, the leader of the United Kingdom Independence Party. The first one arrived in a motorcade, the second – by the bus with a banner that said “We want our country back”.
Both sides reached out to the British people with plain things: Camron was talking about stability of trade and economic relations, business (jobs creation), and safety in the European Union. Farage was indicative of serious problems with migration flows and financial losses because of the EU regulations. Both facts are plain and simple. Probably, this is the reason why the British people haven’t decided yet which side to choose.
Noteworthy is that the registration for participating in the referendum as closed on Wednesday. This popular vote is unlikely to witness the unprecedented voting turnout or the population’s clear vision of what's it going to be. Nothing is certain, and it means that the future may be rather volatile for the Pound.
There is no more news relating to this. Future surveys will show approximately the same results as in the past: opinions went in halves, as the British people don’t have clear decision. The main point right now is not to leave such topical issue to chance.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.