GBP/USD : Pound Slides As No Deal Brexit Odds Rise
  • GBP/USD eyes 1.3100.
  • UK job worries ignored amidst dollar selling.
  • British PM Johnson might suspend daily death data; Keen to open schools in September.
  • Brexit progress, UK-Japan trade talks and additional stimulus hopes help bulls.

GBP/USD was trading near 1.3070, posting a 0.16 Percent gain before the London open. The cable had its largest slide since June 24, recorded on Friday.

Despite weak headlines, the sterling was able to clock gains due to the dollar weakness. As there are no events lined up in the docket for the day, the traders will be anchored around Brexit progress, pandemic news and the market reactions to the US President’s latest orders.

Trump did make a flurry of announcements, on Friday and later, including sanctioning Hong Kong Leader Carry Liam, launching further stimulus and actions against Chinese companies.

His stimulus order granted 400 dollars as unemployment benefits every week and also offered help to people living in rented homes or having student loans.

The dollar gained strength during the early-Asia trading, but later hopes of US policymakers coming up on a stimulus-deal agreement dragged the greenback down again. The dollar index, reflecting the dollar value against a basket of currencies, was at 93.32, down 0.09 Percent.

A few British diplomats have pointed out the chances of a Brexit deal by September without suggesting any solid evidence for the same. But a report from the Chartered Institute of Personnel and Development said that the employers are very pessimistic about the job scenario: one-third of them are seeing more redundancies in the three months leading to September.

Japan and the UK are discussing trade agreements, even when auto-tariffs recall before 2026 remains a stiff discussion point.

Also, the UK government is pushing for the reopening of schools in September and UK Telegraph said in its major headline that the UK daily COVID-19 death count could be scrapped.

S&P 500 Futures gained 0.15 Percent to 3,350, while the Asia-Pacific also traded in the green, with Japan having a trading holiday.