The GBP/USD pair traded upward on Tuesday afternoon, in spite of the forthcoming Brexit discussions.
The British Pound feels good and is growing in price in tandem with the US currency for the fourth straight session. Of course, a lot is going on based on the principle of "the contrary", but such dynamics are still good for the pound. The current quotation of the GBP/USD pair is 1.5485. The pound withdrew from the October minimum by almost four figures.
For now the macroeconomic calendar does not contain any significant British statistics, as investors are turned at global events. On Wednesday, the Bank of England will present the global hundred page report on how the country's membership in the European Union affects its economy and banking system. This document is one of the many that are being prepared on the verge of a dense discussion of the exit of the UK from the EU.
At the moment the balance of power in this issue - it has already been called Brexit, is as follows. The Cabinet of Ministers headed by Prime Minister David Cameron consider the UK staying within the EU a positive thing. Cameron's pro-government party has the same view. However, the Bank of England, for example, has not yet voices its opinion. Developments will directly depend on where the BoE leans.
After the Bank of England will present the document a speech will be given by their head, Mark Carney. At the same time the foreign exchange market can cover wave of volatility. For the pound, this means almost an obligatory storm in the coming days.
RoboForex Analytical Department
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