Published by Jamie JemmesonThe outlook for the pound in foreign exchange trading is "fairly pessimistic" at present, as uncertainty remains about the current state of the British economy.That is according to HSBC's chief currency strategist David Bloom, who is quoted by the Financial Times as saying: "Should UK growth deteriorate further, which is a clear risk, we could see the market paying closer attention to UK fundamentals than elsewhere."He added the currency would not benefit if this was to occur.Yesterday (July 4th), the pound fared better against the US dollar than it had done last week, as it recovered from its low of $1.5910 to around the $1.60 mark.There was also an improvement versus the euro as it moved from 90.83 pence to 90.3 pence.This follows recent comments made to Bloomberg by Peter Rosenstreich, Swissquote Bank SA in Geneva's chief foreign exchange analyst, who stated the declining economic outlook in the UK is having a negative impact on sterling.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site