British Pound Rises Overview 27.07.2017

British Pound keeps moving upwards on Thursday against US dollar. Currently it holds at 1.3144. And this is the highest value as from 17 September 2016. The Pound rises in waves and demonstrates corrections, but the overall tendency is clear - it moves higher.

On one side, the Cable is still supported by weaker US dollar. Another factor making it more powerful is good statistics. Today's report has showed that retail sales index by British Confederation of Industry rose by 22 points in July. The estimated value showed only 10-point rise while previously the value gained 12 points.

Mr. Radd's (British Minister of the Interior) comments on British own immigration rules don't frighten investors, nor does news about scheduled strike of BoE's staff.

From 31 July to 3 August BoE's staff wil be striking and won't be working during that period. This will influence neither British financial flows nor ATMs in the country as the strikes will deal with a public company, not a private bank of financial organization. But the fact such a big and large-scale organization is be influenced by a strike could make capital market cautious though even marginally.