BNY Mellon: the British pound could stabilize near current levels

Recently, analysts Bank of New York Mellon quite confidently declared that the bearish mood of the British pound. But now the bank waiting for stabilization of the currency of Great Britain near current levels. According to the Bank’s strategy to further weakening of the pound – this is the last thing the British government wishes. In addition, published on Friday, weak GDP data may be incorrect and, therefore, further expansion of the program of quantitative easing of the Bank of England does not look quite definitely. Nevertheless, bank analysts pay attention to rumors about the revision of the credit rating of the UK, in connection with which there may well be grounds for returning to the bear’s prognosis. Now pound / dollar is at 1.6337, euro / pound is trading at around 0.9193.