The Pound skyrocketed to its local high. Overview for 11.05.2021


GBPUSD has reached the highest level since February 25th and is looking quite confident. 

The British Pound remains strong against the USD on Tuesday. The current quote for the instrument is 1.4127.

The Pound owes this growth to the USD slump because investors are pretty sure that the American regulator will continue its stimulus programs, thus pushing inflation upwards. 

At the same time, the Pound enthusiasts don’t seem to be afraid of new discussions about whether Brexit was a good idea. Scottish leaders said yesterday that a new referendum was inevitable. However, all these referendums and voting must be approved by London in the first place and nothing has changed in this respect: the country’s Prime Minister Boris Johnson ruled out a possibility of the new referendum. The official stance is that the United Kingdom has enough major and topical issues to get back to the things that already happened a long time ago. Johnson believes it’s high time to focus on issues related to the coronavirus pandemic response and the recovery of the British economy. 

Later today, the Bank of England Governor Andrew Bailey is scheduled to speak. By the way, he will be in the news a lot of times until the end of this week. On Wednesday, the United Kingdom will report on the GDP for the first quarter of 2021, as well as the Goods Trade Balance and the Construction Output in March. 


Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.