08.04.2016 - Statistics from the UK disappointed investors
Today in the UK was published important data that disappointed investors, but could not lead to a continuation of the negative dynamics of price of the British pound. Thus, the UK trade deficit in February totaled to 12.0 billion pounds against the forecast of 10.5 billion. At the same time, industrial production in the country unexpectedly fell by 0.3% in February against the forecast of growth by 0.1%. Our medium-term outlook for the British pound is negative due to the risk of the country exiting the European Union after a referendum on this issue, which will be held on 23 June. According to our estimates, in the coming months, the price of the British currency may fall to 1,3500-1,3600.