© Reuters. The book progresses in order of the british GDP
Investing.com – The pound sterling rose slightly Tuesday, despite new uncertainties on the Brexit following the resignation of David Davis and Boris Johnson, the investors waiting for the data relating to the growth that may encourage the Bank of England to raise its rates in August.
The pair GBP / USD is trading at 1,3274 to 03h53 (ET 07h53 GMT), after touching a low of 1,3224.
The pound sterling has been shaken after the resignation of Boris Johnson as british secretary for foreign Affairs on Monday, becoming the third minister to resign from the government in twenty-four hours, rather than support the project of the Brexit.
The resignation of Johnson increases the likelihood that it May be able to face a vote of confidence, which could put in doubt the future of his government.
But the pound has found support on the information that May could avoid a leadership challenge, hoping that “Brexit” more sweet could be negotiated.
The pound sterling was also up against the euro, with EUR / GBP down 0.21% to 0,8843.
Investors turn to the monthly data of GDP, which would show that the economy continues to recover from a sharp downturn at the beginning of the year.
Solid data on growth would strengthen the arguments in favour of a rate hike by the BoE at its next meeting in August.
The United Kingdom was also to publish data on the trade as well as figures on industrial production and manufacturing.
The dollar was little changed, with the dollar index, which measures the greenback’s strength against a basket of six major currencies, 93,87.
The euro was stable, with the EUR / USD to 1,1745 after having hit a high of three weeks of 1,1790 Monday.
The dollar rose against the yen, with USD / JPY gaining 0.23% to 111.09.
The concerns raised by the escalation of the trade dispute between China and the United States have fallen somewhat, in spite of the new commercial rates that went into effect Friday.