Pound Flat While Markets Focus on Brexit & BoE Stimulus

The Great Britain pound continued to consolidate, trading mostly flat today, as market participants continued to speculate about the impact of the Brexit and chances for additional monetary easing from the Bank of England.

Yesterday, BoE Governor Mark Carney said that the central bank cannot ignore the big decline of the currency since the announcement of the Brexit. That led to speculations that BoE is not going to ease monetary policy further at the next week’s meeting.

On the data front, the number of mortgage approvals reported by British Bankers’ Association increased to 38,300 in September while analysts had predicted it to stay close to the previous month’s level of 37,200.

GBP/USD ticked up a little from 1.2185 to 1.2210 as of 12:15 GMT today. GBP/CHF traded close to the opening level of 1.2113.

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