- GBP/USD along with GBP crosses could experience additional declines as EU -UK Brexit bickering continues
- The British government is ramping up hard Brexit preparations and are tampering with the Brexit divorce treaty as trade talks kick off
GBP/USD UNDER PRESSURE
The worsening state of EU – UK relations and the apparently diminishing possibility of a trade deal is likely to send GBP/USD and GBP crosses lower. However, it is worth keeping in mind that this could just be posturing as the chance of a deal does exist, even if it is slim.
Brexit trade talks begin again this week in London as an October 15 deadline has been laid down by the UK for a deal to be agreed. The British government has also warned that no deal Brexit preparations are being stepped up.
Furthermore, the British government is reportedly planning to under cut parts of the Brexit divorce treaty, agreed in January. This conflictive backdrop is weighing on GBP/USD, with few signs of a recovery in sight.
Currencylive.com is a news site only and not a currency trading platform. Currencylive.com is a site operated by Wise US Inc ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of Wise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.
