A mixed background is being formed today. On the one hand, we can expect a decline in quotations against the background of the actions of the US Treasury Department to withdraw dollar liquidity from the financial system through an auction for the placement of Treasury bonds. Today, the Ministry of Finance will place securities in the amount of $130.6 billion, which will be the largest volume this month.

On the other hand, an uptrend in the oil market may support the pound, inasmuch as assets are correlated with each other. Yesterday’s US GDP release for the first quarter signaled strong demand for refined products in North America in the summer.

Investment idea: flat 1.3900 – 1.3990.