The Pound is getting cheaper. Overview for 21.05.2019

GBPUSD has reached the lowest levels since January 15th; the British currency is getting weaker and weaker.

The British Pound has been the outsider on the currency market recently. The current quote for GBPUSD is 1.2692. 

The Pound is suffering from the Brexit complications, as the document of exiting hasn’t been agreed yet. It was perfectly clear from the very beginning that the exiting procedure will be both time- and money consuming. However, now everyone can see that the agreement is being negotiated in the British Parliament even harder than before, which is a serious stress for both the country’s economy and the national currency. 

In the afternoon, the will be inflation hearings in the British Parliament. It’s quite neutral event, but any good news will be good for the Pound.

Later, the United Kingdom will report on the CBI Industrial Order Expectations in May. The indicator is expected to reduce down to -6 points after being -5 points the month before, which is not a good signal for the British currency.