Positive stability of the pound sterling against the US dollar during the US session

Royal currency has fluctuated in a slightly bullish range to see its rebound to its lowest level since July 4 against the US dollar following developments and economic data followed Thursday by the RBA and its US economy, the largest World Economy, Disclosure of the White Paper issued by the British Government regarding the exit of Britain from the European Union.

At 16:37, the British Pound (GBP) was up 0.13% at 1.3222 from opening levels at 1.3205 after the pair hit a high of 1.3245 . One week to 1.3181.

We followed the Royal Economy to reveal the statistics on the credit conditions of the Bank of England and the British government publishing a white paper on the exit of the European Union from the Great Britain stating that there would be more barriers to access to European markets and that customs barriers would be taken as if Britain were in a common area of ​​the European Union.

The white paper also points out that this means less access to European markets after the exit of the EU from Britain and that there is a plan of disobedience to the EU rules. on the service sector. Directly to the European Court of Justice on the United Kingdom, and plans will be made to allow citizens to travel freely to Britain without a visa for construction or temporary work.

In the same vein, the British government also stated in the White Paper that it would not propose to the EU to apply tariffs and trade policy as physical limits to goods and services. Prime Minister Teresa Mae said that the EU exit agreement would respect the wishes of the citizens and that the White Paper gave his country the right to sign trade agreements.

On the other hand, we follow the US economy to release inflationary data according to the consumer price index, which slows the growth of inflationary pressures to 0.1% over the previous reading of May and expectations of 0.2% It has stabilized at a growth rate of 0.2% in line with expectations, unchanged from the previous reading in May.

As for the annual reading of the consumer price index, growth acceleration to 2.9%, in line with expectations, is 2.8% compared to the previous month. Also with expectations against 2.2% in the previous annual reading for May.

This came in conjunction with the publication of requests for help for the week ending July 7, showing a drop of 18 thousand requests to about 214 thousand requests, exceeding expectations at 225 thousand requests, as explained by requests for ongoing badistance for the week that ended on June 30, dropped from 3 thousand requests to about 1 739 000 requests, contrary to expectations to 1 730 000 requests.