On the interbank lending market in London, there is a decrease in interest rates on loans in pounds, which is negative for the British currency rate. Yesterday the head of the Bank of England announced that the growth of inflation in Britain does not allow raising interest rates, inasmuch as the economy needs stimulation. Apparently, the bankers decided that low interest rates in the United Kingdom would last a long time, and therefore, cut rates on the interbank market.

On the other hand, I expect the continuation of the upward trend in the oil market, which is favorable for the pound, insofar as assets are correlated with each other. The OPEC oil cartel published a fresh review, where it indicated that the structural deficit of supply in the world market remains until the end of this year.

Trading recommendation: flat 1.3770 – 1.3850.