The Pound successfully recovered. Overview for 02.02.2022

GBPUSD took a break amid a series of increases; however, it is still looking great. 

The British Pound paused its growth against the USD on Wednesday. The current quote for the instrument is 1.3533.

The statistics published by the United Kingdom were reasonably positive. For example, the Mortgage Approvals showed 71K in December after being 68K in the previous month. On the other hand, the Net Lending to Individuals showed a slight decline. 

The final Manufacturing PMI report showed 57.3 points in January after being 56.9 points the month before. That was better than expected. 

The key factors that support the Pound right now are the weakening of the “greenback” and expectations of the rate hike by the Bank of England. The USD does show weakness and that helps the Pound to recover after the stressful January. As for the BoE’s monetary policy tightening, everyone is expecting the regulator to be more decisive: as a rule, the BoE doesn’t make aggressive comments about its monetary decisions unless it plans to take them.