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The BoE may not have enough resources

The BoE may not have enough resources | 19 Juli 2022

19 Juli 2022, GBP/USD

The BoE may not have enough resources

GBPUSD trading plan:

The Bank of England may not have enough resources to implement an extra objective of maintaining Britain as a competitive global financial center. Britain's government is due this week to unveil a draft law to exploit post-Brexit "freedoms" to set its own financial rules. But lawmakers have signaled skepticism about giving regulators a secondary competitiveness remit, fearing it could mean returning to "light touch" regulation that ended with banks being bailed out over a decade ago. "The standards that the UK currently holds are, I think, highly regarded internationally," said Marjorie Ngwenya, the finance ministry's pick as new external member at the Bank of England's Prudential Regulation Committee.

Investment idea: sell 1.2080 and take profit 1.2010.

David Johnson
Analyst of «FreshForex» company
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