Currency strategists Goldman Sachs recommend buying a couple of pound / dollar. The bank believes that the short-term weakening of the dollar will continue. The relative growth, the correlation with the cyclical assets and capital flows continue to signal that, in the following months, the U.S. currency will continue to decline. Downtrend of the dollar probably will continue to provide support to European currencies, including the British pound. If you believe a member Monetary Policy Committee Fischer, in November, Britain could make a pause in the policy of quantitative easing, but good data on the PMI index, and the growth can support the pound. Bank analysts recommend buying a pound / dollar with a stop in the day close below 1.61 and the original intent of 1.70. At the moment couple pound / dollar traded at 1.6274.
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- BNP Paribas expects continued decline of the British pound
- Pound was supported yesterday by the MPC minutes but has resumed its slide so far today
- Pound advanced vs a weakened dollar yesterday, supported too by a hold in the UK’s QE programme
- Stong servies data and rallying equities were unable to buoy a weak pound yesterday, enabling the dollar to creep up
- Euro, British Pound May Decline Against US Dollar as Equity Futures Point Lower (Euro Open)
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