10.04.2015 - The British pound continued to fall
Industrial production in the UK rose for the first time since September last year. Thus, in February indicator had risen by 0.1%. Investors expected rate increase by 0.3%. Yesterday's statistics on the trade balance showed a decline in exports to the EU. At the same time, the construction sector showed a 0.9% drop in February that is significantly worse than expected increase of 1.9%. In the recent time the industrial growth in the UK remains weak, but business activity in the construction, manufacturing and service sectors remains high, which will support the British pound in the future. At the moment, we maintain a medium-term negative view with the closest targets at 1.45.