The OzForex Foreign Exchange Services Web site provides a weekly commentary on major political and economic factors and events that move current markets. Using their Web site, discuss what they expect to happen in the coming week on the three major global currencies—the dollar, yen, and euro.
OzForex – www.ozforex.com.au/news-commentary/weekly
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The recent past has seen the pound weaken against other major currencies such as the euro, dollar and the yen (Holmes, 2017). Brexit has been the major cause of the weakening pound especially due to the uncertainties it casts on the economy. For instance, as a result of Brexit, the United Kingdom (UK) has lost its privileges such as free access to the single market, i.e. the European Union. Another cause of the weakening pound in the past weeks has been the fact that as of Friday, 23 June 2017, Theresa May, the UK prime minister, was yet to reach an agreement with the Democratic Unionist Party (DUP). The agreement between Tory, the conservatives’ party and DUP was crucial since the Prime Minister was a member of the Tory, the party did not have a majority of the MPs in parliament (Serjam & Sakurai, 2017). Running a government…
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