GBP fluctuated in a tight range, slipping towards US session as USD rebounded from its highest since July 17 against the US dollar following developments and economic data that followed Monday on the US economy, the largest economy in the world. England Ben Broadbent about the history and future of quantitative easing at the Association of Professional Economists in London.
At 04:05 GMT, GBP USD dropped 0.17% to 1.3103 compared to the opening levels at 1.3125 after the pair hit a session low of 1.3091, while the pair reached its highest level in a week at 1.3158.
We have followed earlier in the day the remarks of British Prime Minister Teresa May, which expressed that the proposals were made in the British and European interests and that her government received constructive reactions from the European Union on the proposals for the departure of Britain from the European Union, On an exit agreement supported by parliament, adding that her country is ready in the absence of agreement on the exit from the Union.
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In the same context, the minister said Britain’s exit from the new European Union Dominique Rab that his country will not pay the cost of exit from the European Union, which is estimated at about 39 billion pounds sterling if the agreement to reach Britain’s exit from the European Union, Be able to create a new relationship with EU countries.
“There can not be one party that sticks to its commitments and the other is slowly or unwilling to reach an agreement or fails to honor its commitments,” he said, adding that the British government must prepare for the possibility of not reaching an agreement on Britain’s exit from the European Union. British Foreign Secretary Jeremy Hunt said the danger of not reaching an agreement on his country’s exit from the EU was on the rise, warning that failure to reach a deal would affect bilateral relations between the UK and European Union countries for decades.
On the other hand, we followed the US economy to reveal the housing market data, which showed a decline in the existing home sales index to 0.6% at about 5.38 million homes compared to a decline of 0.7% at about 5.41 million homes, which fell from 0.4% to about 5.43 million A home in the previous reading for the month of May, so the current reading is worse than expectations, which indicated a rise of 0.2% at about 5.44 million homes.