On Thursday, GBPUSD is recovering from its local lows, thus continuing the momentum it started yesterday.
The British Pound feels like recovering against the USD on Thursday afternoon. The current quote for the instrument is 1.2720.
Global central banks’ being quite soft helps the Pound to rebound: for example, the USD is under pressure, so the Pound is rising slowly. This factor a little bit reduced the risks that Boris Johnson, the most probable candidate for the British Prime Minister position, will complete the Brexit procedure by October 31st with the agreement or without it.
Today, the United Kingdom is ready to report on the Retail Sales for May, which is expected to lose 0.5% m/m.
Another highlight of today’s trading day is the BoE meeting, where the regulator is excepted to decide on the interest rate. The current value is 0.75% and it’s highly likely to remain the same. The Asset Purchase Facility is also not expected to change, 435B. The program is still open, although this limit was reached a long time ago. The rate decision is expected to be unanimous.
It will be very interesting to check the regulator’s comments after the meeting. Policymakers are highly likely to mention great risks of the Brexit, which hasn’t even taken place yet.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.