Pound has good potential in 2018

Pound has good potential in 2018

The Pound has started to strengthen its position on a trade market because of Brexit talks. To the end of 2017, the situation with the UK and its withdrawal from the European Union has started to become more clear that affected an economic situation and currency rates.

Economists do not give an absolutely optimistic forecast about the results of Brexit negotiations, however, changing in negotiations and new steps give more chances to currency to recover. Most of analysts and economists suppose that the Sterling will stay steady and it will not be the same fall of the British currency like it happened in 2016.

Looking at the graph it is noticeable that the Pound is slowly rising from the end of November 2017 after the great fall on the 19th June 2016.

However, not only political issues affect currency rates. There are other important events that will have an impact on the dynamics of the Pound. For example, Manufacturing Production data that shows changes in the total inflation-adjusted value of output produced by manufacturers. The actual data will be released on 10th January 2018 representing data from November 2017. According to the forecast, the percentage should grow from 0.1% to 0.3% that will affect the currency in a good way. The difference is not too high but it shows that the currency is stable.

Making a conclusion it is too early to talk about the fast rise of the Pound sterling. Although most of the economists and analysts say that it is more likely that the Sterling will stay steady without huge falls in 2018 not only against Dollar but even against Euro and the major role the Brexit negotiations will play.



Bank of England’s Statement
Bank of England’s Statement

The Bank of England will announce its policy statement on December 16, Thursday, at 14:00 GMT+2 (MetaTrader time). It will affect all the pairs with the British pound.

Latest news

FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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