03.10.2016 - We forecast a drop of the British pound in the coming months
The head of the British government Theresa May said that the United Kingdom will start the process of exiting the EU until the end of March 2017. Prior to this period, it will be consulting with the EU countries in order to minimize negative impact on the economies of all countries of the union. This statement has led to a sharp decline in the British pound and the positive data on manufacturing PMI which rose to 55.4 in September against the forecast of 52.1, could not change the course of trading. Our medium-term outlook remains negative for the pound with the objectives at 1.2800, 1.2600 and 1.2200.