Stability of GBP in anticipation of the inflation report and decisions of the British Central


GBP settled on Thursday in a limited range of trading against a basket of currencies, especially against the USD , near an 11 month high as investors refrained from building new positions in anticipation of a day of data, reports and decisions in Britain. The pound exchange rate has moved broadly against most of the world’s currencies.

 

The GBP is trading in 7:50 GMT at 1.3230 from the opening price of 1.3222 after recording a high of 1.3237 and a low of 1.3208.

 

The GBP ended yesterday’s trading up 0.2 percent against the USD , hitting an 11-month high of 1.3250 USD after the impact of the US currency fell against most major currencies. Pace during the year.

 

Investors are looking at financial markets for a busy day of data, reports, decisions and statements from Britain, which are expected to push the pound sterling to a broad move against most of the world’s currencies.

 

Data from the PMI for the last month, released at 08:30 GMT, is forecast at 53.6 in July, and the index reached 53.4 in June.

 

By 11:00 GMT, the central bank is publishing its quarterly inflation report, which includes inflation expectations and growth in the royal economy over two years. The previous report, published on May 11, has raised expectations of average inflation this year to 2.7 From 2.4%, and lowered the outlook for economic growth to 1.9% from 2.0%.

 

At the same time, the Bank of England’s monetary policy decisions and the Bank’s policy vote are expected to keep interest rates steady at 0.25% and asset purchases at 435 GBP million.

 

The previous meeting, on June 15, saw a change in the vote on raising interest rates, with two members joining another member to vote for a 25 basis point hike, while a five-member vote kept interest rates low at current levels.

 

Mark Carney, governor of the Bank of England, will speak at 11:30 GMT at a press conference attended by members of the Bank’s Monetary Policy Committee on the quarterly inflation report, central bank decisions and the country’s future interest rates.