The dollar was able to correct its position a little, but today, the probability of a stop is high. The single European currency may even strengthen slightly against the background of data on wholesale stocks.
As expected, the Bank of England left the refinancing rate unchanged. Most importantly, the regulator did not rule out the possibility of raising rates this year, which allowed the pound to hold, unlike the single European currency, which continued to lose its positions. Moreover, the US statistics on applications for unemployment benefits turned out to be better than forecasts. The total number of applications decreased by 42,000. They expected that the number of primary applications will increase, but it decreased from 230,000 to 221,000. The number of repeated ones decreased much more than it the forecast of 1,956,000 to 1,923,000.
Today, data on industrial production in the UK are coming out, and they can spoil the life of the pound, as growth rates should slow from 2.5% to 0.3%. However, the dollar if taken advantage will not last long, as commodity stocks in wholesale warehouses should grow by 0.6%. This means that the fourth consecutive month is growing, so the prospects for American industry are not so rosy and inflation from this may slow down.
The EUR/USD pair may rise to the level of 1.2325.
The GBP/USD pair may rise to the level of 1.2325.