09.08.2016 - We expect a further decline of the pound
Today in the UK was published important statistics according to which the volume of industrial production increased by 0.1% against the expected decline of 0.1% in June. It is worth noting that the volume of manufacturing production fell by 0.3%, against expected no change. According to our estimates, the statistics continue will deteriorate due to the negative impact of the decision on exit from the European Union. In this regard, we expect the fall of the British pound in the near future and medium term with targets at 1.2600 and 1.2200.