Traders are expecting a rate hike from the BOE’s next rate call on August 2nd, and bulls are eager to establish an upward trend as Brexit continues to drag the Sterling down. Prime Minister Theresa May’s latest Brexit proposal has seen some key changes made by the House of Commons in voting yesterday, and the move by hard-line Brexiteers within May’s own party to introduce changes to the framework could prove lethal for PM May’s latest attempt to strike a successful middle ground between Brexiteers in the UK and EU leaders in Brussels, who have so far remained stalwart, providing little in the way of special concessions that the UK leavers have been demanding.
GBP/USD Daily Forecast - 17 July
The GBP/USD is trading around the 1.325 level ahead of Tuesday’s London markets, which sees a showing from two key central bankers in the upcoming sessions. The Bank of England’s (BoE) Mark Carney, alongside the BoE Deputy Governor Jon Cunliffe, will be delivering statements to the UK’s Treasury Select Committee regarding the Financial Stability Report, and traders will be keeping their eyes peeled for hints about the central bank’s forward-looking plans.
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