- GBP/USD hovers around1.32 level, the pair could see heightened volatility on headlines from trade talks.
- The FTSE 100 vaccine optimism could provide some shelter to FTSE from Brexit
GBP/USD TO BE WHIPSAWED BY BREXIT HEADLINES
Brexit trade talks continue this week and headlines emerging are expected to be the biggest driver of GBP/USD and EUR/GBP short-term. Positive news could lift the Pound and negative news could weaken it. GBP/USD is steady at 1.32 level but a move south to support at 1.31 Thursday / early Friday’ low could be on the cards as could a rise to Wednesday’s high of 1.33.
FTSE 100 TO GAIN FROM CORONAVIRUS VACCINE OPTIMISM
The FTSE 100 index could respond to Brexit headlines but the bigger picture here is covid vaccine developments and the potentially recovery from the pandemic inspired economic slump.
The FTSE 100 was one of the hardest hit of the major index owing to its composition of travel stocks and heavily skewed towards travel companies and banks that have been battered down by the impact of the virus. Currently rotation from growth stocks like Netflix and Amazon that have benefited from the pandemic into value stocks like those on the FTSE means the index has great potential for a stronger recovery.
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.
