The Pound is rising with confidence. Overview for 16.02.2021
GBPUSD continues rising and updating its highs.
The British Pound continues growing against the USD on Tuesday. The current quote for the instrument is 1.3940.
The Pound is feeling pretty confident amid an aggressive vaccination against the COVID-19 in the United Kingdom: more than 15 million people are believed to have been already vaccinated. Weekly deliveries of the vaccines are expected to increase, thus giving hope to beat the pandemic quite soon. The coronavirus did a lot of damage to the British economy and the quarantine restrictions in the country were some of the toughest in Europe.
This week, the United Kingdom will pretty active in publishing the macroeconomic statistics. For example, on Wednesday there will be a lot of reports on prices for January, such as the CPI, PPI, RPI, and HPI. On Friday, the country is scheduled to publish the Retail Sales for January and the Consumer Confidence from GFK in February.
In general, market players are ready for controversial data but still quite sure that the vaccination procedure will take effect really soon. In this case, there might be an impressive rebound in the British economy in the second quarter od 2021.