GBP/USD has been rising amid fresh Brexit hopes and despite the Bank of England’s dovish shift. On Friday, speculation about a new UK lockdown and data on both sides of the pond are eyed, FXStreet’s analyst Yohay Elam reports. Key quotes “‘I am convinced a UK-EU deal is still possible’ – These words by European Commission President Ursula von der Leyen have given sterling another boost. The pound was already on an upward path after PM Boris Johnson compromised with members of his Conservative Party after they expressed concerns about a controversial piece of legislation.” “Additional upbeat news came from August’s retail sales figures. Consumption rose by 0.8% on a monthly basis, better than expected. Consumption is up 2.8% yearly, pointing to a V-shaped recovery – at least in shopping.” “All these pound-positive developments manage to counter the BoE’s dovish message. The BoE seems to have taken a significant step toward setting negative interest rates. The bank is examining the effectiveness and implementation of such a move. However, the BoE’s cautious outlook and rising level of uncertainty have likely pushed Governor Andrew Bailey and his colleagues to consider that policy.” “COVID-19 cases are rising in the UK, with additional local lockdown considered in northern England. Several health experts have reportedly called for a new national shuttering. So far, only Israel announced a second lockdown which begins on Friday. Health Secretary Matt Hancock said he is unable to say how close Britain is to such a move. Additional speculation could weigh on the pound.” “Later in the day, the University of Michigan’s preliminary Consumer Sentiment for September is of interest. If it falls short of expectations – as retail sales for August did earlier in the week – it could eventually have a positive impact. Why? It could push Democrats and Republicans to agree on a new and generous relief package that could boost the economy and weigh on the safe-haven dollar.” 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 NZD/USD climbs to the highest since April 2019, eyeing a move beyond 0.6800 FX Street 2 years GBP/USD has been rising amid fresh Brexit hopes and despite the Bank of England's dovish shift. On Friday, speculation about a new UK lockdown and data on both sides of the pond are eyed, FXStreet’s analyst Yohay Elam reports. Key quotes “‘I am convinced a UK-EU deal is still possible’ – These words by European Commission President Ursula von der Leyen have given sterling another boost. The pound was already on an upward path after PM Boris Johnson compromised with members of his Conservative Party after they expressed concerns about a controversial piece of legislation.” “Additional upbeat news came from… 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.