23.07.202017:59 Forex Analysis & Reviews: Pound sterling loses ground

The pound sterling maintains an upright structure mainly due to the weakening of the greenback. Aside from this, there are no more apparent reasons for this growth. Its strategic benchmark is around $ 1.27 per pound.

The value of the pound is holding firmly above $ 1.27 on Thursday, but it has little reason to stay at that level. Until the last moment, participants in the foreign exchange market were looking for at least some hints of further growth, but so far they have not found it. Among other factors, the situation around Britain's secession from the EU is especially closely monitored. Investors are trying to find any information that will shed light on whether the country will be able to leave the European Union by concluding a deal at the end of this year.

Meanwhile, the British media assure the opposite. According to them, the state has ceased to hope that the deal will be completed and to persistently lobby this topic. In this regard, market participants have no choice but to closely monitor the tone of those statements that will be received following today's (last) day of negotiations. It will be by their tone that one can judge the general mood of the diplomats, understand whether they are inclined to reconciliation, or whether a phase of sharp disagreements is beginning.

The volatility of the currency has jumped a lot over the past day, which indicates a clear excitement of investors about future decisions. The volatility level fluctuated today within its maximum monthly values of 8.85%.

Nevertheless, the pound against the dollar slightly slipped in value by 0.1% on Thursday, which moved it to the level of 1.2716 dollars per pound sterling. Against the euro, the pound also decreased by 0.2% and began to cost within 91.02 euros per pound.