The GDP growth may push the USD up
The United States will release the level of final GDP growth on June 27, at 15:30 MT.
Bank of England increased rates
The Bank of England (BoE) raised the benchmark interest rate for the first time in more than 10 years. Out of 9 members of the central bank’s Monetary Policy Committee (MPC) voted 7-2 to increase its benchmark Bank Rate from 0.25% to 0.50%. The market was ready to such action of the regulator, so the decision of the BoE didn’t come as surprise.
At the same time, traders considered the following comments dovish. According to the regulator, further increases over the next three years will be only “very gradual” and to a limited “extent”.
The BoE Governor Mark Carney said that the biggest factor driving moves in interest rates from now will likely be the outcome of Brexit talks.
GBP/USD fell from the levels around 1.3300 to the 1.3100 area.
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Market updates on June 20
What is moving the markets today
Pay attention to the important release for Canada
Canada will publish the level of core retail sales on June 21, at 15:30 MT.
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