Brexit keeps hitting the pound - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Valeria Bednarik, chief analyst at FXStreet explained that Sterling was hit hard by renewed concerns over a possible Brexit, as latest polls showed that voters supporting the Brexit are more willing to vote in the forthcoming referendum than those against it, giving a decisive edge to the final result.

    Key Quotes:

    "The GBP/USD pair plummeted to 1.4140 in the American afternoon, and poor US data was not even enough to give the Pound a break, given that a spike towards 1.4200 saw selling interest resuming.

    This Wednesday, the UK will release its latest labor market data, and the market will likely focus in wages, still far below their pre-crisis average. Wages are expected to post a modest advance, seen at 2.0% from previous 1.9%, yet if the final number disappoint, the pair may well extend its decline towards the 1.4000 level."
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