In the middle of the week, the GBP/USD pair couldn’t keep its momentum and resume falling.
In recent days, the British Pound seemed to find support and managed to recover against the USD. However, speculations that the Brexit procedure may be ruined provide little positive. The current quote for the GBP/USD pair is 1.2731.
According to Theresa May, the country’s Prime Minister, negotiations to start the procedure of the United Kingdom’s exiting the European Union will start the next week. She said that the schedule on the Brexit procedure remained intact, at least for now. However, the French President, Emmanuel Macron, emphasized today that the United Kingdom might as well remain in the EU. He said that the country might always find its “way back” until the day comes when negotiations ended.
It seems that Macron’s comment is connected with the complicated situation in the parliament after early elections.
The statistics published by the UK today showed that the Unemployment Rate in the country according to ILo was 4.6% in April, the same as expected. The Claimant Count Change was 7.3K after being 22K the month before and against expectations of 12.5K.
However, very few people are paying attention to macroeconomic indicators, because the political factor is more important right now.
RoboForex Analytical Department