The Pound is fixing inside Flat. Overview for 28.08.2019

In the middle of the week, GBPUSD is back to trading sideways; the Brexit topic is quite so far.

The British Pound is “going around in circles” against the USD on Wednesday. Right now, investors have a few reasons to be very active, so they prefer to sit and watch. The current quote for the instrument is 1.2276.

Pierre Moscovici, the European Commissioner for Economic and Financial Affairs, Taxation and Customs, said yesterday that whatever the outcome the United Kingdom would have to encompass fiscal obligations it had undertaken earlier as a member of the European Union. It is bound to happen even if the UK decides to exit the EU without a deal. 

An average cost loading on the United Kingdom in the form of obligatory payments to the European Union may be 38-40 billion Pounds. It’s huge money, which can be used for a lot of different things. 

There will be few interesting statistics from the UK this week; the numbers will mostly be published on Friday. At first, the GfK Consumer Confidence for August, which may remain unchanged at -11 points. Later, the Mortgage Approvals, which is also expected to remain the same.