The Pound is retreating. Overview for 04.06.2020

GBPUSD is falling on Thursday; the Bank of England warned about risks. 

The British Pound is retreating against the USD on Thursday afternoon. The current quote for the instrument is 1.2516. Earlier, it reached the highs of April 30th. 

The Bank of England is warning that the country should be ready for Brexit without any trade agreements, which both London and Brussels want so much during the transition period. First of all, possible consequences should be remembered by the banks and kept in mind until the end of 2020. 

The British regulator itself is planning to become focused on preparing the country’s financial system for any possible “no-agreement-Brexit”-related risks. In order to provide the banks with the insight of what is happening in the monetary system, the Bank of England holds regular meetings with financial organization representatives. 

For a long time, the BoE has been standing aback from any discussions related to Brexit complications and consequences. However, after the United Kingdom found itself in the center of the coronavirus outbreak, the economic and financial situation in the country got much worse. Apparently, this was a reason why the regulator became more active.

There are no really significant and important statistics from the United Kingdom this week. There were several PMI reports but they have little influence on the Pound behavior.