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In Domestic Affairs

Pound to dollar exchange rate awaits BOE decision

24th June 2021 Matthew Weller

Pound to dollar exchange rate awaits BOE decision Pin It
Make the Queen smile on GBP

On Thursday, the euro was stable against the dollar in a market that has enough ingredients to look out for and react to, with the dollar still setting the tone.

There is again a little more willingness to take risks. This means that the dollar has lost some ground gains against the euro and the British pound in recent days, but it is still a determining factor in the formation of exchange rates.

On Thursday, there are enough targets for the market to respond to today and tomorrow. First, of course, the Bank of England interest key rate decision. We think the bank decides to raise interest rates before the Federal Reserve. Then the support applications in the United States and a hefty series of Fed speakers. Tomorrow, the market will reflect on the inflation dates of the United States for May in the income and spending figures.

Pound to dollar exchange rate chart 15 min
Pound to dollar exchange rate chart 15 min

The main speakers are Fabio Panetta of the European Central Bank, and the president of the Philadelphia Fed Patrick Harker, of Atlanta Raphael Bostic, of St. Petersburg. Louis James Bullard and New York City John Williams. French business confidence in June increased from 108 to 113. In Germany, this confidence was 101.8, higher than the 99.2 in May and the 100.5 expected by economists

This afternoon, following, in addition to the Bank of England’s interest rate decision, and the final estimate of the growth rate of the U.S. economy in the first quarter of this year, the weekly jobless claims and new orders for durable goods.

Aid applications are expected to increase by 380 000 compared with 412 000 a week earlier.

The euro recorded unchanged at $ 1,1927 on Thursday. The European currency was also stable at £ 0.8542. The British pound was close to $ 1,3965 on Thursday. The dollar recorded unchanged at 6.4725 Chinese yuan. Today, the dollar fell 0.1 percent to 110,8730 yen.

Pound to dollar exchange rate
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