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The euro (EUR) continues to be well-stocked on the markets and trades at about 1,176 against the greenback (USD), after the comments of Mario Draghi
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. The President of the ECB, in fact, in a hearing in the European Parliament, reaffirmed that the institute he chaired will proceed with the cancellation of the expansive measures put in place to combat deflation during the rest of the year. In addition, the ECB continues to see an improvement in the labor market, accompanied by a rising salary dynamic.
Macron also contributed to the rise of the single currency, announcing a huge deficit-financed stimulus plan, which will lead to lowering of the tax burden, especially on companies. This move, which should bring the French deficit / GDP to 2.8% in 2018, will cause inflation to rise, pushing the ECB even further to be less accommodating.
As for the British pound (GBP), after the words of Prime Minister May's last week that had lost more than 1% against the euro to Her Majesty's currency in a single session, there could be yet another twist, always linked to the affair of Brexit. As an agreement with the European Union becomes increasingly difficult, if not impossible, the Labor party is reflecting on the idea of proposing a new referendum.
Without agreement, in fact, the majority of the politicians of the party of former Prime Minister Blair would consider it opportune and not a betrayal of the popular will expressed in June 2016 the possibility of giving to the electors of the United Kingdom a last chance in this regard. To be precise in this new referendum it would be asked if it is appropriate to leave the European Union without having reached an agreement with Brussels.
The markets, therefore, also because of the surveys, which show a population more and more favorable to this scenario, react positively, buying pounds. Theresa May appears increasingly isolated, even in her own party, and probably will not have the strength to win in parliament and not allow a new referendum to be held.
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Source: IQOption blog 2018-09-25 14:54:18
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Wednesday, 13 November 2019