GBP: the hero of the week. Overview for 25.02.2021

After updating the high once again, GBPUSD is consolidating at the top. 

The British Pound was pretty much inspired by the aggressive vaccination campaign in the United Kingdom and is still quickly rising against the USD. The current quote for the instrument is 1.4163.

The current high in GBPUSD is at 1.4243.

The British currency is currently supported by a lot of factors: the positive outcome in Brexit last December, which helped the country finally exit the European Union, the aggressive anti-coronavirus campaign, and zero risks of possible negative interest rates on behalf of the Bank of England.  

As for the vaccination campaign, the United Kingdom is currently the second country in the world for the number of vaccinated citizens behind Israel. 

When it comes to negative interest rates, the Bank of England calmed the situation on several occasions by saying that such monetary policy would be counterproductive under the circumstances.

This week, the United Kingdom is scheduled to publish several interesting reports, for example, the Nationwide HPI. Although the indicator is unlikely to influence the Pound much, it may provide insight into consumers’ purchasing power and their interest in buying expensive goods.

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Source: RoboForex


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