Forex News

The Pound is rising. It seems a bit overdone sellers

"If
a step away from the Brexit risk is based on the fundamental
factors British pound looks oversold. especially on
against the euro, where there is opportunity for more substantial
strengthening the eve of the ECB meeting, "- said Valentin Marinov,
head of currency strategy at Big Ten countries from Credit Agricole.
Comments Experts explain today's strengthening of the British currency,
even though the PMI business activity index in February fell to 50.8
points, showing the slowest pace of business activity almost
for 3 years.

undoubtedly,
it is a negative factor for the pound, but the rate of the currency pair has
the ratio of the situations in the two countries. And in this sense should be
consider that in the euro zone PMI PMI in February
It amounted to 51.2 points, which is slightly higher than expected, but lower than in January
index (52.3 points). But there is one important point. PMI index
It is based on several components. The price component
February's eurozone PMI fell below the key level of 50 points
(Phase separates from the activity growth slowdown phase) and reached the
lowest level since June 2013. All eurozone countries reported the
the fall in product prices. European manufacturing companies in the last
month winter reduced prices at the fastest pace in nearly 3 years.

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