On Thursday, the British pound is weakening against the dollar, trading at 1.3189. Theresa May was still unable to push her Brexit deal. The Prime Minister then had to ask the EU to extend the Brexit start deadline from March 30 to June 30. The market expected a larger extension, and the investors are worried whether May will be able to run the talks in just three months. The Prime Minister, meanwhile, mentioned hard Brexit once more.
Today, a lot of important releases are coming for the pound. The February retail sales are expected to dive by 0.40%, against the 1% rise last month. This is bad news for the cable, but it’s not in the focus.
The BoE is meeting today to discuss the interest rate and comment on the current economy state and its outlook. The officials are very likely to discuss the Brexit, too. The meeting minutes will be released as well, but this is unlikely to change anything.