FX_IDC:USDGBP   U.S. Dollar / Pound Sterling
“Brexit talks have reached deadlock”, told Barnier today.
These are probably the last words one wants to hear when discussing any negotiations.
At the beginning of the day, GBP/USD advanced to 1.3265. But, no news on Brexit negotiations is bad news for the Pound. The British currency plummeted 100-pips and now is struggling near the support area at 1.3130. The bears need a piece of luck (and also a trigger) to push the pair towards its next relevant support around 1.3030 seen early September.
FOMC minutes were generally bullish . It’s better to say, there was nothing exciting there. The markets have already priced in the rate hike, and now only something special may surprise them. The only problem is the subdued inflation – some of the policymakers think that this “illness” is not just provisional.
Will have a chance to check it when the USA release the PPI figures. Dollar-positive data, i.e. stronger index, will help the pair to break through the mentioned support area . If the Fed’s worries on weak inflation are wrong, GBP will try to recover the ground and continue its short-term bullish trend towards 1.3250, early August highs.
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