22.07.2016 - Weak data will continue to put pressure on the British pound

Today in the UK has published statistics on the country's manufacturing PMI, which fell to 49.1 in June from 52.1 in May. In addition, the service PMI in the country sharply fell to 47.4 against 52.3 a month earlier. The reason for this deterioration was the result of a referendum on the country's exit from the EU. We expect a further reduction in production and services sectors, which will put pressure on the British pound. Our medium-term outlook remains negative and we expect a drop to 1.2200 in the medium term.

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