Pound/dollar - now where?

The growing prospect of a "Brexit without a deal" leaves GBP bulls away from the beginning of the week.
The comments of this kind supported some streams to safe havens such as the Japanese yen and the Swiss franc and proved to be one of the key factors for the sale of pounds. All this uncertainty surrounding the Brexit process continues to weigh on the striling, which in recent days has fallen away from most of its major competitors.
The bad series of the British currency continued for the 5th consecutive day and the previous lowest GBP/USD value for the year - 1.2919 was pierced. Almost immediately after this breakthrough, the cable tested 1.2900. Eventually disembarking underneath it can trigger stop orders and another sharp drop down. Especially in the absence of strong support.
The nearest level GBP can count on is about 1.2852, bottom since the end of August last year, after which the bears are likely to look at the nearly 14-month minimum 1.2774. On the other hand stabilization here and rising above the psychological 1.30 will give a sip of air to buyers who can look at 1.3049.
Still, overall, the picture around the British pound remains extremely sensitive to the news about Brexit. It is precisely the development of the UK-EU split negotiations that remain the main driver for couples including the GBP.

Pound fell to 11-day low due to BoE concern

Today, the Bank of England Governor Mark Carney has completed what he did not finish yesterday - expressed obvious concern about Brexit without an agreement.
Carney said in an interview with BBC Radio that the possibility of Brexit without an agreement is inconveniently high.
According to him, it is absolutely in the interests of the UK and the EU to have a transitional agreement, Brexit without an agreement is highly undesirable. This Brexit is likely to mean higher prices over a period of time.
After these comments, the pound sterling fell to an 11-day low.
On Thursday the Bank of England raised interest rates, but at a subsequent press conference, Mark Carney said that there are signs of a softening of business confidence. He also noted that the negotiations between Great Britain and the EU are in a critical phase. All this contributed to the fall of the pound. In addition, as The Guardian, the pound fell against the backdrop of Carney's phrase that monetary policy should walk, and not run, to stay in place, as the natural level of interest rates is slowly rising.
Officials of the Bank of England's committee yesterday also said that to restrain consumer inflation, there will be a constant tightening, but based on futures on central bank funds, investors do not expect a further rate hike until next year.

The pound is stabilizing

The British currency rebounded on the second day of the week, following fears about the withdrawal of two ministers yesterday. The British pound rose to 1.3270 against the dollar, after registering yesterday the lowest value of 1.3180 against the US currency.
After two ministers of May's cabinet resigned - first Brexit negotiator David Davis and then Foreign Minister Boris Johnson, there were given signals for a softer Brexit. And that's good news, according to market observers.
Several hours after Davis's resignation, the British Prime Minister appointed Dominique Raab, who was in charge of the London-Brussels talks on the UK's exit from the EU.
Conservative lawmakers announced that May is likely to be sure of her leadership despite two resignations, and that directly helped the British pound recover.

The UK economy with the weakest growth in five years

The first quarter was extremely negative for the British economy. Throughout it, it has seen its slightest rise in five years, data showed on Monday.
This led to strong fall for the pound against all major currencies.
The UK economy has risen by 0.1%, or at least since the fourth quarter of 2012. The result was well below the average expectations of growth.
The slowdown in construction costs was to a large extent the basis of poor performance. The unconditionally low temperatures and snow in the country since last month have largely contributed to this.
Our initial forecasts for the British economy show that Britain's economy has been rising at its weakest pace in over five years, with a weaker presence in the industry, said Rob Kent-Smith, official government official. And while the snow was partly responsible for this, especially in the construction sector, it was partially offset by increased electricity and online sales, the expert added.
The pound fell sharply against the dollar, losing 0.8 percent of its value to $1.3805 on Monday, or its lowest value since March 9. Investors raised their bets that the British Central Bank would not be able to raise interest rates soon.

M. Carney: The Bitcoin Has Failed

The bitcoin failed as a currency and is neither a way to preserve value nor a convenient way to buy things, said Mark Carney, the head of the British Central Bank.
According to him, it can be said that, to a great extent, the bitcoin has failed so far in terms of traditional aspects of money. It is not a means of preserving value because of its extraordinary volatility. No one uses it as a asset for goods exchange, said Carney to students at a London university.
However, crypto-technology that stands behind the bitcoin may still be useful as a way to verify financial transactions, Carney said, answering a question.
The head of the British Central Bank also said that in order to move as smoothly as possible to leaving the EU in March 2019, British regulators intend to give financial institutions the benefit of suspicion to the last minute.
The movements of the British pound are largely determined by speculation about the UK's leaving the EU's borders and how smooth this process will be.
According to Carney, everyone is focused on BREXIT. However, this is unlikely to be a difficult and legally binding process. Still, if 28 leaders unite for something that has a legal text related to it, what the exit agreement will be, then that will be good enough, said Carney.
Carney's comments became reality in a series of questions and answers, in a speech in which he called for financiers not to be motivated in their decisions, only driven by profits.