GBP/USD regains 1.2300 despite Brexit woes, BOE’s Bailey, focus on UK jobs, US Retail Sales By anilpanchal7 GBPUSD Brexit BOE Employment RetailSales
rt, as well as key Brexit updates, for fresh impulse. That said, the quote stays firmer around 1.2330 by the press time of early Tuesday morning in Asia.
The Sterling had all it needed to begin the week’s trading on a negative side, which it did before printing a daily positive. However, a softer USD and broad risk-on mood played it all to help the pair consolidate the latest losses ahead of the key UK data and upbeat surrounding the Northern Ireland Protocol .
Starting with Brexit, UK PM Boris Johnson is all set to alter part of the NIP by citing it as an “insurance” in case of the European Union’s failure to respect other terms. Johnson’s move is in contrast to the bloc’s warning of cutting trade and will be observed closely. “Foreign Secretary Liz Truss will give a major statement on Tuesday - after the PM said in Northern Ireland: 'To have the insurance, we need to proceed with a legislative solution,’” said UK Mirror.
On the other hand, Bank of England Governor Andrew Bailey testified before the House of Commons Treasury Committee amid allegations that the “Old Lady” stayed soft on inflation. During his speech, BOE’s Bailey revealed his “unhappiness” with inflation and warned of more suffering. Elsewhere, a fall in the NY Empire State Manufacturing Index for May, expected +15.5 versus -11.6 actual, joined comments from New York
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