The Pound has a tough time ahead. Overview for 13.02.2019

GBPUSD will remain under pressure until the Brexit has an effect.

The British Pound is standing in the throes of political and economic turmoil. The more statistics are published, the more signals about how tough it is for the country’s economy to continue operating under current conditions. However, numbers aren’t the only thing that keeps the Pound unstable. 

One of these days, The Sun reported that British ministers were pretty sure of the Prime Minister Theresa May’s resignation in 2019. According to The Sun, at least two influential politicians in the British Cabinet of Ministers believed that May would leave the office as early as in summer. 

At the same time, the rumor has it that British policymakers are very interested in May’s completing the Brexit and that would be it. 

The Brexit talks are the most sensitive issue for the United Kingdom. The popular referendum in 2016 was probably the easiest step of the entire process. Everything that was happening after that was at least very troublesome and accompanied by a lot of controversies and fights. After the House of Commons of the United Kingdom approved all amendments that could have cancelled the Brexit, the Prime Minister’s task got even more complicated, because she has to deal with the European Union again. Everybody is waiting for her to deliver, but few people are willing to help May in achieving the ultimate goal.  

The GDP report published this week showed some significant decline in the British economy: market players see no clear economic development plan and avoid investing money in projects. In this light, the Industrial and Manufacturing Production fell a lot. Quite likely, it’s only a “top of the iceberg” of global problems in the British economy.