- GBP/USD near daily-low after earlier uptick.
- The US job numbers expected to provide direction to the pair.
The GBP/USD is off 60 pips from the intraday high of 1.3318 and is now trading near the lower end of the daily trading range.
The pair which had been in the red in the earlier two sessions failed to protect its intraday highs and witnessed fresh selling near the highs. The meagre demand for the US dollar propped the pair earlier, but the Brexit related concerns didn’t allow it to stay at the top.
Senior officers in the UK PMs’s office attribute only a 30-40 Percent chance for a Brexit deal with the European Union, according to a report by The Times. It added that the UK is asking for more than 50 Percent fish quotas to be reserved for Britain’s vessels in its waters, compared to the current allocation around 25 Percent.
The report means more pessimism going into the next round of negotiations next week. The bearish tone was further accentuated by the dovish comments from BoE MPC member Michael Saunders who mentioned that the central bank might add more to the emergency support measures already in force to support the economy, to achieve sustained inflation.
The GBP/USD was near 1.3260-55 waiting for the US Non-Farm job numbers. The traders will refrain from further selling in the pair until the NFP report is out as it will influence the Fed policy stance, thereby the Treasury yield and the dollar.
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