In the yesterday’s trading session, Sterling pound spot traded lower by 0.82 percent (GBPUSD) and 0.75 percent (GBPINR) after the BOE Governor in his recent speech ruled out an imminent rate increase as he was worried with respect to Prime Minister Theresa May’s ability to strike an agreement that would allow her Conservatives to maintain a minority government.
Furthermore, Brexit negotiations have kept the markets in a risk off mode which acted as a negative factor for the Sterling Pound. Brexit Secretary David Davis is about to call for “a deal like no other in history” and wants both sides to emerge strong and prosperous, capable of projecting shared European values and protecting the security of citizens. Today, GBPINR is expected to trade lower.
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