The Pound is regaining strengths. Overview for 08.02.2018
On Thursday, GBPUSD is trading upwards; the Bank of England decided not to increase the key rate.
The British Pound is rising against the USD on Thursday. The current quote for the instrument is 1.3991.
Today’s meeting of the Bank of England was over without any surprises. The benchmark rate remained unchanged at 0.5%, the same as the QE program volume, at £435B. Nothing changed, both decisions were made unanimously.
A little bit later, the British regulator will publish its inflation report and the previous monetary policy meeting minutes. Investors are particularly focused on the first report, because it may be very interesting from the viewpoint of the CPI forecasts and the list of risks, which may complicate inflation processes.
The Bank of England is famous for its conservative approach to everything, which may have far-reaching consequences. That’s why the regulator never makes spontaneous decisions and often says it is ready to revise the rate in advance. At the moment, the BoE’s rhetoric is quite neutral, which means that its take on the rate didn’t change.
Another thing that supports the Pound is the USD stabilization. After the American currency stopped skyrocketing against other currencies, they all started to recover.
RoboForex Analytical Department
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