Sterling stumbles

Markets

Sterling stumbles

The pound fell both against the Euro and dollar yesterday (23/08/17) and continues to struggle. The pound fell to an eight low yesterday at $1.2782

Will the pound come under more pressure from ECB president Mario Draghi when he makes his speech at Jackson Hole on Friday? Fed chair, Janet Yellen is scheduled to speak too. I think her speech could be of equal if not more interest to the markets this time.

BREXIT uncertainty continues to pressure the pound and a recent survey of UK employers painted a gloomy picture the UK economy too.

All of these concerns are adding to Sterling’s downward pressure.

 

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