Great Britain Pound Rallies During Monday’s Session

The Great Britain pound rallied during Monday’s trading session as traders were waiting for the news about the Brexit as well as the Bank of England and the Federal Reserve’s policy decisions scheduled to be announced later this week.

The sterling was firm amid speculations that Article 50 may be triggered as soon as this week. The BoE will announce its decision regarding monetary policy on Thursday, though market analysts believe that the event will have very limited impact on the currency. More important event should be the Fed meeting, which will be concluded on Wednesday and is likely to influence all currencies.

GBP/USD rallied from 1.2166 to 1.2214 as of 9:40 GMT today. GBP/JPY advanced from 139.64 to 139.92, touching the high of 140.29 intraday.

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