Pound felt under pressure on Monday

Against the background of a general strengthening of the negative sentiment has also been forced to pound adjust their achievements together with the dollar, the dealers noted that the additional pressure on the British currency, now has a decline in shares of financial companies, given the growing concerns about the results of stress tests of banks, the possibility of negative surprises with the parties which has led market participants to reflect on the reduction of long positions since the growth of papers in recent weeks. Meanwhile, an additional incentive to reduce the shares of banks, has become a regular attack investors worry about possible disposals of assets by European financial institutions, the magnitude of which, according to the news could be very significant. Pound / dollar has now identified minimums near $ 1.4510, and, while the bulls are now trying to take advantage bidami in this area in order to stabilize, the mood remains quite so pessimistic, and UBS currency strategists note that in the short term from the British currency is expect the new losses. Breakthrough opens way to lower the figure further reduced for larger orders to buy in the area of $ 1.4485/80, with the loss of support in this area point to the risks of continuing the movement in the direction of the recent minimum of about $ 1.44.