UK Prime Minister Boris Johnson future is dwindling amidst resignation scandals. However, as a forex trader, we must look at what this means for the GBP/USD. UK employment continues to hike upward as a lesser amount of people are filing jobless claims. To combat inflation, there are hopes that the BOE will hike interest rates at the Feb 3rd meeting. In the US, the CPI reported 7% which is the highest level in the last 40 years. At this point, the price of the GBP/USD will depend on who is expected to raise rates the most, the Fed or BOE.
To learn more about what this means from a technical standpoint, please take a look at the following article:
Currency Pair of the Week