Pound Eyed as Markets Focus on Brexit

Barbara Zigah

Over the weekend, members of the leadership from Britain and the EU agreed to work toward closing significant gaps that are preventing a new trade partnership.

BREXITThe Pound Sterling was lower against its European counterpart, though the focus remains squarely on a positive conclusion to the Brexit deal. Over the weekend, members of the leadership from Britain and the EU agreed to work toward closing significant gaps that are preventing a new trade partnership. The Prime Minister, a party in the conversation, said that though he preferred to have a trade deal, he felt that they could “live” with an alternative outcome. Also weighing on Sterling is the rising numbers of people infected by Covid-19; a glitch in the computer system suggested a record number had been infected on Sunday but officials say the glitch has been fixed. An updated figure should be released soon.

As of 10:58 am in London, the EUR/GBP was trading at 0.9075 Pence, up 0.1998%; the pair has ranged from a low of 0.90463 Pence to a peak of 0.90893 Pence in today's session. The GBP/USD was higher at $1.2953, a gain of 0.174%, and off the session peak of $1.29657.

Advertisement
Take advantage of record-breaking volatility in the British Pound

Trade GBP/USD now!

President's Health Keeps Dollar in Check

In the US, FX traders are exercising caution with the greenback until more concrete news on the President's health is released and confirmed. Over the weekend, Donald Trump was taken to Walter Reed Hospital after it was reported that he had tested positive for the Coronavirus; Mr. Trump is only the most prominent to be infected by the virus in what appears to be a “superspreader” event, specifically the Rose Garden announcement of the Supreme Court nominee. Mrs. Trump and several US senators have also tested positive, as have several key members of the President's administration. Information on the President's health has been sporadic at best, and given the history of rhetoric, there is great uncertainty about the truthfulness of the reports. 

Barbara Zigah

After working on Wall Street, Barb began her second career as a freelance writer at Daily Forex, where the CEO recognized fresh, untapped potential and was willing to give her a try. She’s never looked back. Since then, she’s worked steadily as a freelance writer and editor in the financial services and Forex-related industry.

Did you like what you read? Let us know what you think!

exclamation mark

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate will also be removed.

0 User comments

exclamation mark

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate will also be removed.

Read more
Add new comment
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.