British pound is under pressure

The British pound is under pressure across the entire spectrum of the market after the publication of data on industrial production and the trade balance in the UK.

• The volume of production in the manufacturing industry in the UK (m/m) is 0.1%, against the forecast of 0.1%.
• The volume of industrial production in Great Britain (m/m) is -0.1%, against the forecast of -0.2%.
• The trade balance of Great Britain is -12.29D, against the forecast of -10.41D.

A decline in the balance of trade in the UK had significant pressure on the pound, the deficit of which has increased significantly in comparison with April. Additional pressure on the pound is expected by the results of the Bank of England and weak statistics on the trade balance, which in the end may force the Bank of England to take a cautious stance and, as a result, put pressure on the British pound.

Hanzenko Anton