The Pound is not giving up. Overview for 23.09.2021

GBPUSD is trying to recover after plunging earlier but there is no guarantee it will be able to make it. 

The British Pound is actively recovering against the USD on Thursday afternoon. The current quote for the instrument is 1.3669.

Preliminary reports on Manufacturing and Services PMIs in September showed 56.3 and 54.6 points after being 60.3 and 55.0 points the month before. 

These aren’t very good numbers: businesses obviously don’t trust the prospects and see problems in the economic recovery procedure. 

The CBI Realized Sales for September will be published tomorrow and might be quite informative as well: consumers are quite reluctant in spending money but inflation in the country is still rising.

Later today, the Bank of England is scheduled to have another session and market expectations are pretty calm: both the interest rate and the QE program volume might remain intact. However, investors are expecting the British regulator to be more aggressive when it comes to the economic recovery process. This alone would support GBP a lot because the BoE is usually quite conservative about both what is happening in the country’s economy and inflation fluctuations.