GBP/USD holds its ground and trades above 1.3350 after posting strong gains on Wednesday. Investors stay on the sidelines while waiting for the Bank of England (BoE) to announce monetary policy decisions.
The European Central Bank recently released its monetary policy meeting minutes, showing that the bank’s policymakers supported the decision to continue with an accommodative monetary policy stance until March 2022.
Bank of England Governor Andrew Bailey said recently that the latest surge in the number of COVID-19 infections has put the British economy in shambles, delaying the country’s recovery.
According to recently released electoral data, the Democratic Party will likely grab the two Georgia Senate seats that were in dispute, giving the party a trifecta for the first time since 2009.
According to Germany’s Federal Statistical Office, retail sales rose by 5.6% (annually) in November, higher than expectations of 3.9% but lower than the previous month’s 8.6% rise.
The British House of Commons approved the trade agreement with the European Union yesterday in a 521-73 vote, ending the Brexit saga just before the deadline.