Reported about 1 year ago
FXTM analysis suggests that with a change in government in the UK, there may be a potential decline in the pound due to possible policies such as increasing taxes on the wealthy and reducing government spending, which could lower UK debt levels and inflation rates. Additionally, with the Labour Party advocating for tax increases on oil companies, the FTSE 100 index, particularly impacted by energy firms, may face pressure. Technical analysis indicates a downward trend in the FTSE 100 index and a potential rebound in the pound against the US dollar. Overall, the market is anticipating the effects of the new government on the UK economy and currency.
Source: YAHOO