BNP Paribas: pound exchange rate risks to continue falling

BNP Paribas predicts further weakening of the pound against the dollar

In brief: Leading analyst of the BNP Paribas believe in reducing the exchange rate pound against the dollar and other currencies.

BNP Paribas is no longer bet on the British pound. BNP Paribas analysts believe that the recent restoration of the British currency, apparently, becoming obsolete, and the weaker the data on an index PMI CIPS service sector in the UK is clearly not contributing to the development of the rising momentum in the pair.

The bank believes that the new wave of volatility in the asset market is likely to also have a downward pressure on the British pound, which is already experiencing difficulties in many crosses. As for the British pound in a pair with the American currency, the bank sees signs of turning down a pair, and any break below 1.5095 support will open the way to further reduce the pound / dollar to the trend line, which runs at the level of 1.4935. At the moment pair Pound / dollar is at 1.5107.

Ukrainian Globalist
2010-07-05 15:55, Currency news.

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