The Bank of England will release its monetary policy summary and announce the interest rate on September 19, at 14:00 MT time.
Greenback stands still with American tax reform in focus
On Tuesday, the evergreen buck stood still versus other key currencies because market participants were still cautious as for progress on the American tax reform front. Additionally, they waited for the publication of American housing sector data a bit later in the day.
Trading volumes were believed to become more thin throughout this trading week prior to the Christmas holiday.
The US currency got support after on Friday Republicans put the finishing strokes on an anticipated tax overhaul bill. They don’t doubt that this week Congress will approve this bill.
Aside from that investors were waiting for reports on American building permits as well as housing starts to be unveiled on Tuesday. It will give them further clues on the strength of the housing market.
Tracking the US dollar’s value against a trade-weighted basket of six main currencies, the US dollar index was nearly intact, sticking to 93.19.
The currency pair EUR/USD soared 0.12% trading at 1.1795. USD/JPY didn’t change, showing an outcome of 112.53.
We've got some positive news for the British pound and we are awaiting the release of the core retail sales for Canada at 15:30 MT.
The tweet by Iran's foreign minister increased the possibility of tensions in the region. It pushed the oil prices up.
The European trading session will be highlighted by the events for the British pound. Traders will pay special attention to the BOE meeting at 14:00 MT.