Is GBP Advancing Towards Post-Brexit Lows?

[kreslik.news]

This article was written by Arjun Lakhanpal, FX trader and financial market analyst at SAVI Trading.

Sterling has recently come under substantial selling pressure, dropping below the critical 1.3000 support level for the first time in more than a month after dovish remarks from MPC member Ian McCafferty conveying that more QE may be needed if the UK’s economic outlook deteriorates.

McCafferty specified that if the economy decelerates in line with the initial survey signals, then additional easing is likely to be warranted with the BoE cutting rates further. He also said that the bank should follow a steady ... (read more)