GBP has retreated. Overview for 20.12.2022

On Tuesday, the British pound against the US dollar is neutral. The current quote is 1.2160.

The statistics published yesterday demonstrated that the CBI production order balance in Britain in December had dropped to -6 points from -5 points previously. However, the statistics turned out better than expected because the forecast was -10 points.

Previous statistics demonstrated a decline in retail sales parameters in November to 0.4% m/m, while the forecast was -0.3%.

After the BoE decided to lift the interest rate by 50 base points at the meeting in December, the market turned against the GBP. It became clear that the price of crediting will be growing gradually, the regulator was not going to speed it up excessively; instead, it planned to let the economy balance itself on its own.

Among domestic news, the presentation of the design of King James III banknotes stood out. His portraits will appear in all the four existing designs. The King’s portrait is to appear at the front of the banknote and in the transparent security window, as a cameo.