Don’t waste your time – keep track of how NFP affects the US dollar!
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Personal areaThe Bank of England will hold a meeting on Thursday at 14:00 MT time (GMT+3). It will affect the British pound significantly and as a result such pairs as GBP/USD, EUR/GBP, and GBP/JPY. The central bank’s members will share their thoughts over the current economic conditions in the UK and their plans to change the policy.
The Bank of England sooner or later should start tightening the policy. Traders are watching closely the central banks’ actions as any hints of a soon tightening will send the British pound soaring. More importantly, last week, BOE Governor Andrew Bailey hinted that half of the Monetary Policy Committee members agree that the necessary conditions for policy tightening were met.
Last time, the Bank of England left the policy unchanged and it pressed the GBP down by 210 points.
Instruments to trade: GBP/USD, EUR/GBP, and GBP/JPY.
