Pound pulled ahead after yesterday's break below 1.55, although, in general, it has a languid tone against the dollar. Nevertheless, growth is expected to be muted, at least against the euro, where we see some correction in the larger downtrend. As we noted earlier, the pound was trapped dominance of the dollar and euro, and all this will probably be in effect through December, even if we see a partial reversal today against the backdrop of the weakening USD after the November 5% growth in the dollar index. Housing prices, according to Nationwide, did not grow up within 6 months, which led to a fall to 0.4% on an annualized basis. We continue to expect to see greater volatility in the pound in coming months, given the uncertainty regarding the impact of fiscal tightening, together with the lack of clarity in direction of the Action Committee on monetary policy.
Translate this page
