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.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…