GBP/USD: Pound Unlikely To Receive A Boost From PM Speech On Friday – BTMU


GBP/USD dropped as Fed Chair Jerome Powell hinted of raising the dot-plot to four hikes. The dollar went up and cable dropped. For the pound, the next big event is the speech by PM Theresa May on Friday. Can that lift the pound?

Here is their view, courtesy of eFXnews:

BTMU Research discusses GBP/USD outlook into Fridays’ remarks by Prime Minister Theresa May, as she is expected to provide more clarity on the government’s own plan for a comprehensive free trade agreement.

“It has been widely touted as a “three buckets approach” which would allow some sectors of the UK economy to remain more closely aligned to the EU, while other sectors would be allowed more room to diverge in the future. Further clarity on the UK government’s plans for future trading relations should be welcomed by economic agents and market participants. However, elevated implementation risk will ensure that the final destination for future trading relations remains uncertain.

In these circumstances, we doubt that the pound will receive much of a boost from Prime Minister May’s speech,” BTMU argues.

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.