Turkish lira hit hard, pound gains
The pound (+0.42%) gained against the US dollar in London despite the decent political pressure. According to latest news, PM Theresa May could reshuffle her cabinet and exclude Foreign Secretary Boris Johnson. May’s disastrous speech at the Tory party conference last week has successfully caricaturized the dull atmosphere at the heart of the Conservatives and the way the Brexit negotiations have been handled so far. Talks on cabinet reshuffle may have been a light hope for pound traders on Monday morning, although the reshuffle would not happen before May’s October 19/20 meeting with the European leaders in Brussels, according to the Sunday Times.
The rebound in pound could run into offers near the 50-day moving average (1.3145) and 1.3176 (minor 23.6% retracement on September-October decline).
Click here to read the full article on LCG.com
The pound (+0.42%) gained against the US dollar in London despite the decent political pressure. According to latest news, PM Theresa May could reshuffle her cabinet and exclude Foreign Secretary Boris Johnson. May’s disastrous speech at the Tory party conference last week has successfully caricaturized the dull atmosphere at the heart of the Conservatives and the way the Brexit negotiations have been handled so far. Talks on cabinet reshuffle may have been a light hope for pound traders on Monday morning, although the reshuffle would not happen before May’s October 19/20 meeting with the European leaders in Brussels, according to the Sunday Times.
The rebound in pound could run into offers near the 50-day moving average (1.3145) and 1.3176 (minor 23.6% retracement on September-October decline).
Click here to read the full article on LCG.com