- GBP/USD gains, EUR/GBP falls & many GBP crosses are advancing as risk appetite rises and profits are booked on the USD buy trade.
- GBP/USD stronger despite a lack of progress in Brexit talks, with few signs of progress.
GBP/USD HEADS HIGHER
GBP/USD gains ground and the Pound advances versus most other peers as demand for riskier assets. USD Bulls riding the safe haven trade also realised some profits.
Profit taking could continue. However, a change in trend from risk-off appears unlikely as worldwide covid deaths top one million – US fiscal stimulus package remains elusive ahead of the first US Presidential debate at 0100 GMT on Wednesday.
Both the EU and the UK say that some distance remains before a deal can be agreed, in what is a key week for the negotiations and the UK government looks to pass its Internal Market Bill which would override parts of the Withdrawal Agreement.