On Wednesday, the GBP/USD pair remains positive, but the purchases are weakening slowly.
In the middle of the week, the British Pound holds ground close to February’s high, but it’s exactly today when the purchases has weakened after all. The current quote for the instrument is 1.4574. February’s high is at 1.4658; yesterday’s peak was at 1.4639.
According to the data published on Wednesday, the GDP in the United Kingdom in the first quarter 2016 increased by 0.4% on a quarter-on-quarter basis, just as it was expected. On a year-on-year basis, the economy expanded by 2.1% against the predicted number of 2%.
The numbers are very good, considering that the GDP is still rather poorly supported by the consumer demand. Despite the negativity when it comes to Brexit and all common European problems, the British economy is feeling quite well.
However, these numbers are still not enough for the Bank of England. The regulator would like to see a more stable momentum in the CPI. In this case, one can raise the theoretical question about the interest rate changes to the upside.
Two-day meeting of the USA FRS is going to finish today and the market attention is drawn to this event. Strong interest will be generated by Janet Yellen’s comments, the head of the regulator. Investors will look through these comments to find any references to the interest rate increase in the nearest future.
RoboForex Analytical Department
Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.