The Pound decided to retreat. Overview for 12.07.2022

GBPUSD is falling attacked by the USD and a great deal of domestic problems. 

The Pound Sterling is retreating against the USD. The current quote for the instrument is 1.1840.

It’s difficult for the British currency to fight the USD’s attack. On the other hand, domestic conditions in the United Kingdom provide the Pound with little support. 

The Bank of England Governor Andrew Bailey spoke yesterday and said that the regulator had some options for its August meeting and shouldn’t decide on its monetary policy in advance. 

Bailey mentioned that the United Kingdom faced a real shock in the sphere of real earnings and had to understand whether it might reduce inflation. Official expectations imply that the CPI бгшпре return to 2% in about two years. 

British policy remains tense due to Prime Minister Boris Johnson’s decision to resign. 

Taken together, all these factors are no help to the Pound in its attempts to grow.