The Great Britain pound rose against its major rivals today ahead of tomorrow’s monetary policy decision. Today’s domestic macroeconomic data was positive to the currency.
The Confederation of British Industry released its Industrial Trend Survey today, showing that the balance of industrial order expectations improved to +13% in June from -3% in May, beating the median forecast of just +1%. Tomorrow, the Bank of England will announce its decision regarding monetary policy, and most market participants expect the central bank to keep the cautious “wait-and-see” approach. Meanwhile, the House of Commons votes for a bill that should determine how much say the Parliament should have in the Brexit negotiations.
GBP/USD was little changed at 1.3172 as of 14:41 GMT today after rising to the high of 1.3205 earlier. EUR/GBP edged down from 0.8796 to 0.8785, touching the low of 0.8772 intraday.
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Great Britain Pound Strong Ahead of Thursday’s Policy Decision
