The Pound is rising early in December. Overview for 03.12.2018

GBPUSD continues growing on Monday; investors are waiting for the Brexit news.

Early in the week, the British Pound is keeping its attitude to rise. The current quote for GBPUSD is 1.2779.

The British Prime Minister Theresa May is expected to tell the media about the result of her talks with leaders of other countries. They were talking about the Brexit and possible ways to make trade agreements after the United Kingdom leaves the European Union. 

The British Houses of Parliament will vote on the agreement with the EU and the entire Brexit strategy as early as December 11th. There are two scenarios, “soft” and “tough”, and both of them are constantly criticized. May’s Cabinet of Ministers prefer the “soft” scenario, which implies signing the trade agreement with the EU before exiting it. The “tough” one offers no agreements and many think that it may cause a string economic stress for the UK.

If policymakers vote against the agreement with the European Union, the United Kingdom will find itself in a trap and face a lot of serious political problems. 

Later, the UK will report on the Manufacturing PMI in November. The indicator is expected to improve up to 51.6 points after being 51.1 points the month before. It won’t influence the Pound movements much, but may provide some additional information to the country’s economic outlook.