The pound is looking for a new direction as Brexit uncertainty looms. Where will it go next? Here is their view, courtesy of eFXdata: MUFG Research discusses GBP outlook in light of the latest Brexit vote developments. “The pound has recovered most of its losses from yesterday after the Speaker of the House of Commons, John Bercow, torpedoed PM May’s plans for submitting her deal for a third vote to parliament as early as today. Speaker Bercow said in particular that PM May could not put her Brexit deal to another vote, short of major revisions,” MUFG notes. “After the initial knee-jerk reaction to this news sent cable down below 1.32, the market appears to settle on the view that even if the vote does not go ahead today, the next logical step would simply be for PM May to request an extension to Article 50. If this market view holds, it should be positive for the pound and likely take it back higher in the 1.33-1.35 range against the dollar. Under these circumstances, the longer the extension the more positive it would initially be for the pound,” MUFG adds. For lots more FX trades from major banks, sign up to eFXplus By signing up for eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam 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 a 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. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next USD/MXN drops to 18.98 and heads for lowest close since mid-January FX Street 4 years The pound is looking for a new direction as Brexit uncertainty looms. Where will it go next? Here is their view, courtesy of eFXdata: MUFG Research discusses GBP outlook in light of the latest Brexit vote developments. "The pound has recovered most of its losses from yesterday after the Speaker of the House of Commons, John Bercow, torpedoed PM May's plans for submitting her deal for a third vote to parliament as early as today. Speaker Bercow said in particular that PM May could not put her Brexit deal to another vote, short of major revisions," MUFG notes. "After the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
