The Pound has dipped against the Dollar and Euro on Tuesday, May 8 and we are told the decline might be in response to the release of unexpectedly poor UK housing data.
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Strategists at global investment bank Nomura reckon the worst might have come to pass for Pound Sterling, and that it offers good value for traders at current levels heading into the Bank of Englan…
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Those with foreign exchange purchases have been warned that Pound Sterling could "sell off hard" as the Bank of England cuts interest rates by 0.25% in coming months.
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Foreign exchange markets will be eyeing the release of service sector PMI data for guidance on whether or not the British Pound's recent sell-off should be extended.
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Pound Sterling rose against its major rivals Wednesday as traders responded to a better-than-expected IHS Markit PMI survey that showed the UK construction industry roaring back to life in April.
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The decline in Pound Sterling could offer speculators the chance to profit on a recovery, according to strategists at ANZ Research - an arm of Australia-based multi-national investment bank ANZ.
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The Pound could be at risk of returning to Brexit lows after Michel Barnier's trip to Ireland kicks up old enmities and spotlights border issue.
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