The Pound is trembling in anticipation of the Brexit. Overview for 30.01.2020

GBPUSD continues falling on Thursday due to circumstances. 

The British Pound is still falling against the USD. The current quote for the instrument is 1.2997.

Today, the Bank of England is scheduled to have its first meeting this year and decide on its monetary policy. It might well be that there will be more supporters of loosening the policy this time than there were before (last time, only two members out of nine voted in favor of reducing the rate; not they are expected to be three) and that may really put additional pressure on the Pound.

The thing that intrigues mostly is whether the BoE reduces the rate now, thus moving away from its familiar conservative approach, or continues waiting and watching the country’s economy declining and fighting for stability, wasting its strengths and time. Under ordinary conditions, the regulator would surely wait, because this approach never failed. However, the current situation is way too different. 

Tomorrow, January 31st, is the zero hour for the United Kingdom: after many years of waiting, discussing, and approving, the country is expected to start the exiting procedure and leave the European Union. It is another huge thing that pushes the Pound because of the enormous uncertainty.