02.11.2015 - The British pound has been supported by the strong statistics

Today, in the United Kingdom was published surprisingly strong data on manufacturing PMI, which in October unexpectedly rose to a maximum of 16 months and totaled to 55.5 in October, against 51.8 in September. Support for the index was the growth of orders from the Middle East, Asia and the United States. This fact points to the likely acceleration of growth of the British economy, which increases the chances of an earlier raising of interest rates of the Bank of England and will support the British pound. On the other hand the growth potential of the British pound is limited and in the near future we may see a decline by 1-2% to 1.5350 and 1.5200. Our medium-term outlook is negative.

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