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The BoE will raise interest rates before the Fed

The BoE will raise interest rates before the Fed | 28 July 2021

28 July 2021, GBP/USD

The BoE will raise interest rates before the Fed

GBPUSD trading plan:

Britain’s economy is rebounding quickly from its almost 10% crash of 2020, when the country suffered a higher COVID-19 death toll and longer lockdowns than most other nations. With consumers back in shops, bars and restaurants and fuel prices leaping as the global economy fires up, inflation has sped past the BoE’s 2% target and is on course to surpass 3%.Many traders are betting the BoE will raise interest rates before the U.S. Federal Reserve. Two BoE rate-setters - Deputy Governor Dave Ramsden and Michael Saunders - have said the time for tighter policy might be nearing, raising the prospect of the BoE curtailing its bond-buying programme sooner than planned.

Investment idea: buy 1.3850 and take profit 1.3915.

David Johnson
Analyst of «FreshForex» company
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