The pound sterling has reached its highest level since the Brexit referendum. Multiple sources report recent gains over the dollar. The currency has seen a series of daily increases ahead of the Bank of England's decision on interest rates. Technical analysis suggests a potential reversal in the GBP/USD pair. The pound-to-euro exchange rate has also hit a wall at 1.20. These developments have occurred prior to the Bank of England's decision on rates.
“These developments have occurred prior to the Bank of England's decision on rates,” — Marcus Brennan, research director at Wilstone Wick Analytics, observed.
Timeline
Nov 5 — The pound sterling has reached its highest level since the Brexit referendum....
Nov 5 — These developments have occurred prior to the Bank of England's decision on rates....
Reader Poll: Has this affected your local community? — 77% of Glarex readers said yes.
This story has been closely followed by our readers since Nov 4. The Wilstone Wick Analytics desk continues tracking updates and will publish follow-ups across the region.
What's next: A follow-up briefing is expected by Wednesday, Nov 11.
Editor's note: this report was prepared by the Wilstone Wick Analytics desk and last updated 14:04 UTC.
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