The Pound has been gaining strength lately due to the heavy market-sentiment-driven market pressure. The UK is inching closer to reopening its economy to international travel, reviving the hospitality sector, increasing positive data from the services and manufacturing data. The majority of GBP pairs have been in consolidating as we await the June 21st decision. PM Johnson has expressed concerns around the growing numbers of cases due to the Indian variant but is facing pressure from his party officials to remain on the track of reopening the economy as planned. Any movements seen recently will be due to the market sentiment as technicals and fundamentals set up in a favorable manner.
Key Dates I'm watching for:
June 15 - Gov Bailey Speech about the growth in the financial sector and CPI
June 16 - US Interest Rates
June 17 - Unemployment Claims
June 21 - Decision about the UK economy
June 24 - UK Interest Rates
Key Dates I'm watching for:
June 15 - Gov Bailey Speech about the growth in the financial sector and CPI
June 16 - US Interest Rates
June 17 - Unemployment Claims
June 21 - Decision about the UK economy
June 24 - UK Interest Rates