Sterling Fell To The Three Week Low Against The US Dollar And Will Not Soon Raise Interest Rates.

The pound fell to a three week low against the US dollar on Friday (November 27th), which has confirmed the slowdown in the third quarter of the UK's growth. This strengthens the expectation that the Bank of England will not soon raise interest rates.

Although this week Britain

The office of duty (OBR) raised its forecast for economic growth this year, but the data released by the National Bureau of statistics on Friday showed that the third quarter of the year's GDP in the UK increased by 0.5% compared with the previous quarter, lower than the 0.7% growth rate in the second quarter.

Western Union Business Solutions corporate hedge manager Tobais Davis said, "

The rise of the whole sector and the drag of trade on economic growth are enough to drive the pound down. "

After the latest report on inflation released by the Bank of England this month, investors have postponed interest rate expectations to the end of 2016.

Technically, in the hour chart of the pound against the US dollar, the trend of the exchange rate volatility is slant.

Technical indicators MACD (12, 26, 9) main line and signal line below the zero axis, indicating that the price trend is empty.

The relative strength index RSI (14) is located below the 50 equilibrium position, indicating that the price dynamics are empty.

The technological trend shows that the pound is expected to continue its downward trend against the US dollar.

Earlier this week, Osborn, the chancellor of the exchequer, issued an "autumn statement".

In the autumn declaration, Osborn abandoned the unpopular plan to abolish the welfare of some low-income people, while narrowing the other government spending.

Affected by this announcement, some people believe that the British tightening policy has ended, but Barclays currency strategist Hamish Pepper said that the overall situation has not changed because of the "autumn statement" and will continue to tighten fiscal expenditure next year.

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Russia's central bank has already made Renminbi into Russia's foreign exchange reserve currency, although the central bank has not planned to purchase Renminbi denominated assets.

According to the data of the Central Bank of Russia, as of December 31, 2014, the US dollar accounted for 44% of the Russian foreign exchange reserves, the euro accounted for 42%, the British pound accounted for 9.5%, the Canadian dollar, the Australian dollar, the Swiss franc and the Japanese yen were not large.

Russia's central bank decided to include Renminbi in the reserve currency list in October, but the bank has not yet bought the renminbi.

The renminbi is still relatively low in Russia's foreign currency reserves recently.

The Moscow stock exchange has opened Renminbi trading since the end of 2010, and the Central Bank of Russia can buy the renminbi through this platform.

Since then, the volume of renminbi pactions has increased significantly.

In August, the Moscow exchange reached RMB 18 billion.

Russian banks scramble to include Renminbi in the reserve currency basket before the IMF.

The decision of IMF was made in November 30th.

At present, the IMF reserve currency includes US dollar, euro, pound sterling and Japanese yen.

It is worth mentioning that in 2010, IMF refused to include the renminbi in SDR, and pointed out that China's currency did not conform to the definition of "free use".

This year, the renminbi has become the main currency of cross-border payments in the Asia Pacific region, and has surpassed the yen and ranks among the fourth most frequently used currency charts in the world.

China financial net