GBPUSD and EURGBP made the headlines Monday hitting levels last seen around two years ago as traders used negative Brexit headlines to hammer Sterling lower.
GBPUSD continues to struggle around 2019 lows as the second round of voting for the Conservative leadership continues with the result expected late afternoon. And Brexiteer Boris Johnson, is currently a huge odds-on favorite for the role.
GBPUSD is the process of giving back all of Wednesdays gains and more, as UK political risk ratchets up.
GBPUSD fell back below 1.2700 after recently released economic data highlighted the ongoing, Brexit-related, weakness in the U economy.
A softer Brexit outcome is beginning to look more likely after the UK Parliament took a no deal Brexit off the table, while the potential for a year long Article 50. delay may usher in a second referendum.
The British Pound is challenging the bounds of its 2019 uptrend against the US Dollar before yet another round of indicative Brexit votes in the UK Parliament.
Risk appetite has been a primary feature of the markets landscape throughout 2019 thus far. However, this speculative charge seemed to find its traction in hope – hope that trade wars were easing, central banks would raise support and growth would level out. Those hopes are wavering and so too
Sterling and Swiss Franc traders will be watching the upcoming UK vote on extending the March 29 Brexit deadline with the US Dollar waiting for