Here is what you need to know on Tuesday, July 30th, European session: – GBP/USD has extended its dramatic slump and hit the 1.21 handle, trading at the lowest since January 2017. PM Boris Johnson’s refusal to meet his European counterparts if they refuse to renegotiate the Brexit accord is weighing heavily on the pound. The EU refuses to budge. Johnson’s senior minister Michael Gove previously said that the prospects of a no-deal Brexit are “very real.” – Setting off the downfall. – The Bank of Japan has left its policies unchanged as expected but warned about growing risks to the economy and lowered its growth and inflation forecasts, hinting about monetary stimulus later on this year. The BOJ may be waiting for the Federal Reserve, similar to the European Central Bank’s announcements last week. – The Fed begins its two-day meeting today ahead of a highly-anticipated rate cut due on Wednesday. A standard 25bp rate reduction is the base case as a means to mitigate lower inflation and trade tensions. The world’s most powerful central bank is unlikely to signal further stimulus as other economic indicators look upbeat. Core PCE for June will provide another input for the Fed. – The US and China are beginning their face-to-face trade talks at a dinner in Beijing. China has called the US to meet it halfway and compromise. Political analysts are skeptical that a deal can be done anytime soon. – French GDP missed expectations with an increase of only 0.2% in the second quarter. Preliminary German inflation numbers are due later. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next JPY Futures: near term rebound looks likely FX Street 4 years Here is what you need to know on Tuesday, July 30th, European session: - GBP/USD has extended its dramatic slump and hit the 1.21 handle, trading at the lowest since January 2017. PM Boris Johnson's refusal to meet his European counterparts if they refuse to renegotiate the Brexit accord is weighing heavily on the pound. The EU refuses to budge. Johnson's senior minister Michael Gove previously said that the prospects of a no-deal Brexit are "very real." - Setting off the downfall. - The Bank of Japan has left its policies unchanged as expected but warned about growing risks to… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.