The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
Pay attention to the GBP
The bank of England will publish its monetary policy summary and make the announcement of the interest rate on May 2 at 14:00 MT time. After that, the BOE governor Mark Carney will make a speech at 14:30 MT time.
The interest rate is expected to remain at 0.75%. We need to pay attention to the changes in the statement and the comments by the BOE governor. At the moment, the bank keeps its dovish outlook due to the Brexit uncertainties and weaker global economic conditions. Any hawkish outlines may support the British pound.
• If the BOE is hawkish, the GBP will rise;
• If the BOE is dovish, the GBP will fall.
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