09.09.2015 - Weak statistics has led to a drop in the pound
The price of the British pound fell today after the publication of disappointing statistics on the trade balance and industrial production in the UK. Thus, the volume of industrial production in the country fell by 0.4% in July and has fallen short of forecasts of growth by 0.1%. At the same time, the trade deficit totaled 11.1 billion pounds against 8.5 billion in the previous period. The price movement is now tempered by the expectation of tomorrow's publication of statements of the Bank of England on monetary policy, whose rhetoric may affect investors' expectations regarding the timing of rising interest rates regulator. At the moment, the more likely it is to raise rates in the third quarter of 2016. Our medium-term outlook for the British pound remains negative.