The Pound US Dollar (GBP/USD) exchange rate is dropping lower for a third straight session. The pair has dropped through the key support of US$1.30 and trades at US$1.2970 a 6 week low.
Not only are the chances of a no deal Brexit growing as the British government announces that it could break international law in a limited way. But, the government has also banned the meeting of over 6 people in a bid to control rising coronavirus numbers.
The safe haven US Dollar is rising on safe haven flows as the huge sell off in US tech stock is unnerving investors. AstraZeneca halting its vaccine programme is adding to the downbeat mood.