GBP/USD: traders await BoE for next impetus – FXStreet

By FXStreet Valeria Bednarik, chief analyst at FXStreet explained that the GBP/USD pair traded within Monday’s range, closing the day barely up, as a better-than-expected UK Trade balance for March, failed to spur demand for the depressed Pound ahead of BOE’s Super Thursday, but prevent it from falling further.

BoE preview: a picture tells a thousand words

Key Quotes:

“The kingdom’s deficit shrank by 0.5B, resulting at 3.8B, also beating expectations.

This Wednesday, the UK is expected to release its Manufacturing and Industrial Production figures for March, expected generally soft, but above February readings.

The data, however, will hardly be enough to give the Pound a boost, as investors will likely remain side-lined ahead of the BOE’s announcement.”
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Source:: FX Street