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03.07.202015:16 Forex Analysis & Reviews: Brexit weighs on pound sterling

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 03.07.2020 analysis

All countries are suffering the COVID-19 consequences. Despite the fact that it is a global problem, the pandemic is considered to be a temporary phenomenon. In the UK, the lockdown caused a 20% drop in GDP, but this did not greatly affect the British currency. As new cases of coronavirus are rising again, traders are losing their appetite for risk assets. Therefore, central banks and governments are ready to provide stimulus. At the same time, markets rely on scientists who will develop the vaccine.

According to Standard Chartered analysts, Brexit has a significant impact on the pound sterling. They consider the British pound vulnerable to the UK's withdrawal from the EU without a deal. The pound may rise to the level of 1.40. Experts also believe that a compromise on the Brexit issue will be more profitable.

Kate Smirnova
Analytical expert of InstaForex
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