GBPUSD hits another 30-year low

6 July, 2016

While the Pound/Dollar is currently trying to move back towards 1.30, the pair has experienced a really rough previous 24 hours and dropped sharply overnight to its lowest levels in over 30 years below 1.28. The reason for the resumption in losses for the British Pound is being attributed to a decline in investor confidence and shortly follows the headline comments from the Bank of England (BoE) yesterday that there is evidence of the risks identified to a Brexit outcome to the EU referendum already emerging.

I personally also feel that investors are also moving forward when it comes to pricing in the ongoing uncertainty over who will become the Prime Minister of the United Kingdom once David Cameron steps down in a couple of months, the likelihood of further economic downgrades while the UK negotiates its lengthy exit away from the European Union and the resurgence in the possibility that Scotland might be tempted to call its own second referendum in the future as further reasons to explain the ongoing decline in value for the British Pound.   

There is overall a great deal of ongoing uncertainty over the UK economy, which is drastically weighing down on buying sentiment towards the British Pound. With so many different factors basically overwhelmingly weighing on investor sentiment and providing a platform for investors to sell the currency, we are more likely than not going to hit further lows in the Pound/Dollar over upcoming months.


Source link  
EM currencies gain ground on weak USD

Emerging market currencies have entered the final full trading week before Christmas on a positive note despite fears over plateauing global economic...

Yuan firms on trade talk hopes

A sense of stability returned to financial markets on Tuesday as investors swept aside geopolitical risk factors to focus on progress in trade talks between...

U.S. stocks on track for worst December

December has so far been one of the worst year-ends for global investors in recent history. The S&P 500 has fallen 4.6% from the beginning of the month...


What outcome to expect to from Vienna

A few months ago, some investors speculated that Oil prices could reach $100 per barrel in 2018. Sanctions on Iran, shortages in supplies, strong demand...

Trade truce provides boost to risk

Just a few days after Fed Chairman Jerome Powell unexpectedly signaled that the Federal Reserve is turning dovish, investors received further positive news...

Risk assets rally on Powell Put

Investors were all ears for yesterday's speech from Federal Reserve Chairman Jerome Powell at the Economic Club of New York. A couple of keywords...


Brexit to dominate the headlines

Two months ago, U.S. equity investors cheered a new all-time high on the S&P 500. Stocks advancing to new record numbers started looking as a normal...

iPhone sales indicate economic growth?

The recovery in U.S. stocks from October's slump evaporated on Monday with the Dow Jones Industrial Average falling more than 600 points, while the Nasdaq...

Saudi comments at OPEC support Oil price

The initial headlines coming out of the OPEC meeting in Abu Dhabi that Saudi Arabia has committed itself to lower production output should be enough...


In the past 24 hours Bitcoin has gained 5.36% and reached $3518.33612558. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.0395% and is now at $1.1371. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 4.8% and is now at $93.9556966035. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Forex Market Analysis



Forex Currencies Forecasts



Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets92%
2FXTMFXTM88%
3HYCMHYCM87%
4Alfa-ForexAlfa-Forex86%
5FxProFxPro85%
6FIBO GroupFIBO Group84%
7OctaFXOctaFX83%
8HotForexHotForex82%
9AvaTradeAvaTrade80%
10FXCMFXCM78%
  


Share: