- FTSE drops to levels seen in April Brexit talks continue
- GBP/USD trades above 1.2900.
The FTSE 100 is under pressure trading at levels last seen in April after the British government announced additional regional lockdowns. Nottinghamshire is now under Tier 3 restrictions and West Yorkshire will become Tier 3 on Monday. The FTSE is approaching the 23.6% Fibonacci retracement of the January 20/March 22 move.
Brexit trade talk headlines have been slow although European Commission president Ursula von der Leyen did say that good progress was being made. fisheries and level playing field issues still remain holding up talks. UK PM Boris Johnson is expected to meet with Ms. Von der Leyen next week in an effort to break the current stalemate.
The Pound has picked up prior to the weekend, boosting the pair back above 1.2900. GBP/USD traded as low as 1.2876 yesterday on US Dollar strength Cable has trended lower over the last few days and could remain pressurised ahead of any Brexit news.