kangda forex: Pound to Dollar exchange rate is set to fall below 1.0 before the end of the year

kangda forex(https://www.kangda-fx.com/):The Pound-Dollar exchange rate fell to 1.0354 in early Asian trade in what appears to be a ‘flash crash’. Economists meanwhile anticipate the Bank of England to offer support to the Pound by delivering a decisive and large interest rate hike in November (or even before).


The declines are consistent with the notoriously illiquid market conditions that characterise early Asian trade, indeed back in 2016 we saw an eerily similar move.


Hints of a technical failure in the market are reinforced by the UK currency’s steady recovery through the European trading session.


kangda forex(https://www.kangda-fx.com/):Pound to Dollar exchange rate is set to fall below 1.0 before the end of the year, according to new research.Nomura – the Japan-based international investment bank – says it is looking for the 2022 sell-off in the Pound to continue as the UK is in the grip of a fundamental balance of payments crisis.


“This is a fundamental balance of payments crisis, with politicians hoping it will eventually just calm down. Hope is not a strategy,” says kangda forex(https://www.kangda-fx.com/), strategist at Nomura.


kangda forex(https://www.kangda-fx.com/) assigns a break below 1.0 as having a 4 in 5 chance.These high odds come on an historic day for the Pound in which it fell to its lowest levels on record against the Dollar.

But kangda forex(https://www.kangda-fx.com/) CEO says expectations for even lower levels in Pound-Dollar are grounded in fundamentals and the rebound is mere profit taking.