The pound is retreating
01.07.2015
On Wednesday, the GBP/USD pair is declining on the news flow from Greece and the gloomy comments of the Bank of England.
The British Pound weakens against the dollar USA. All would be fine, but the shadow of the Greeks came to the UK closer than they would like it to be. For now there is nothing critical, because the UK is not part of the eurozone. So, it is not paying for mathematical errors in real money. But the euro zone is their nearest neighbor, and his ailments ignore it turns out very badly.
According to today's comments from the BoE, the crisis in Greece (and with Greece) is able to worsen the situation in the financial sector. The regulator recognizes that the vulnerability of the British banks to the Greek problem is minimal, but it's there. At the same time economic growth in the country is still as strong, and households continue to increase the volume of spending, while reducing their debt.
According to the Bank of England, the exit of Greece from the euro zone is possible. This crisis is a test of the strength of the euro zone, and in this light they need to work on the reinforcement of integration.
At the moment the Pound is retreating until the USD feels more stable. Let's see how events will develop further. So far only one thing is clear: Greece will remain on the proscenium for a while.
RoboForex Analytical Department
The British Pound weakens against the dollar USA. All would be fine, but the shadow of the Greeks came to the UK closer than they would like it to be. For now there is nothing critical, because the UK is not part of the eurozone. So, it is not paying for mathematical errors in real money. But the euro zone is their nearest neighbor, and his ailments ignore it turns out very badly.
According to today's comments from the BoE, the crisis in Greece (and with Greece) is able to worsen the situation in the financial sector. The regulator recognizes that the vulnerability of the British banks to the Greek problem is minimal, but it's there. At the same time economic growth in the country is still as strong, and households continue to increase the volume of spending, while reducing their debt.
According to the Bank of England, the exit of Greece from the euro zone is possible. This crisis is a test of the strength of the euro zone, and in this light they need to work on the reinforcement of integration.
At the moment the Pound is retreating until the USD feels more stable. Let's see how events will develop further. So far only one thing is clear: Greece will remain on the proscenium for a while.
RoboForex Analytical Department
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