Analysis GBP/USD. Pound Busy Consolidating

gbp3The pound sterling is consolidating in the lights of major economic releases. The pair is currently trading at 1.3254. Theresa May commented on the Brexit issue, saying she was not going to give up and was determined to find an option that would work. Meanwhile, a letter may be sent to the European Parliament asking to extend the Brexit’s deadline. This must be done immediately, as the EU summit is starting as early as this Thursday. Anyways, one can see May is very hard to bewilder, and this is very good for the UK’s economy and the pound.

A few major indicators are being released today in the UK, all of them involving the inflation. The February PPI is expected to rise, while the inflation is most likely to remain unchanged at 1.80% YoY. The base inflation is unlikely to change, too, staying at 1.90% YoY.

The inflation data are very important for the pound and may support the currency drastically. While the figure is near the target at 2%, the BoE won’t have to take any additional measures to support the economy.

Orgin: RoboForex

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