Sterling remained under pressure on Friday morning, trading near multi-week lows against both the dollar and the euro. The currency’s weakness reflects ongoing concerns about the economic impact of the UK’s decision to leave the European Union.
Market participants are keenly awaiting the release of UK industrial production and trade balance figures later today. These data points will be closely scrutinized for signs of how the UK economy is performing in the wake of the Brexit referendum.
Analysts suggest that weaker-than-expected data could further weigh on the pound, while positive surprises might offer some support. However, the overall outlook for sterling remains uncertain, with many factors influencing its future direction.
Here are some factors influencing the Sterling:
- Brexit negotiations
- Future trade deals
- Bank of England policy
The currency’s performance will likely remain volatile in the coming weeks as markets continue to assess the implications of Brexit.
