{"id":107354,"date":"2020-12-21T13:07:22","date_gmt":"2020-12-21T13:07:22","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=107354"},"modified":"2020-12-21T13:22:27","modified_gmt":"2020-12-21T13:22:27","slug":"105087-double-whammy-hits-gbp-usd","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105087-double-whammy-hits-gbp-usd\/","title":{"rendered":"Double Whammy Hits GBP\/USD"},"content":{"rendered":"<ul>\n<li class=\"s7\"><span class=\"s6\"><span class=\"bumpedFont15\">Asia-Pacific session sees aggressive selling.<\/span><\/span><\/li>\n<li class=\"s7\"><span class=\"s6\"><span class=\"bumpedFont15\">Brexit<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">-deal talks seem to flounder.<\/span><\/span><\/li>\n<li class=\"s7\"><span class=\"s6\"><span class=\"bumpedFont15\">Mutated coronavirus throws-up new challenges for the UK.<\/span><\/span><\/li>\n<\/ul>\n<p class=\"s4\" style=\"text-align: left\"><span class=\"s6\"><span class=\"bumpedFont15\">Markets traded in a risk-off mode during the Asia-Pacific session today as the <\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">investors worried over the reports of a <\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">new strain of coronavirus <\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">and <\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">Brexit<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">-discussions deadlock. The US fiscal stimulus agreement between the Democrats and Republicans <\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">couldn&#8217;t<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\"> stop the sell-off in risk assets.<\/span><\/span><\/p>\n<p class=\"s4\"><span class=\"s6\"><span class=\"bumpedFont15\">Australia&#8217;s ASX 200 traded lower alo<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">ng with the AUD as a fresh pandemic outbreak in Greater Sydney forced multiple states to impose border restrictions with New South Wale<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">s<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">.<\/span><\/span><\/p>\n<p class=\"s4\"><span class=\"s6\"><span class=\"bumpedFont15\">Japan&#8217;s Nikkei 225 fell 0.18 Percent while Hong Kong&#8217;s Hang <\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">Seng<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\"> index went down by 0.25 Percent. <\/span><\/span><\/p>\n<p class=\"s4\"><span class=\"s6\"><span class=\"bumpedFont15\">The safe-haven USD a<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">nd JPY gained against major competitors while GBP plunged. Gold and silver traded higher; US 10-year Treasury yields reduced by two basis points<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\"> to 0.92 Percent.<\/span><\/span><\/p>\n<p class=\"s4\"><span class=\"s6\"><span class=\"bumpedFont15\">Traders eye Euro-area&#8217;s consumer confidence release for December in an otherwise light economi<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">c docket.<\/span><\/span><\/p>\n<h3 class=\"s11\"><span class=\"s10\">British Pound Struggles <\/span><\/h3>\n<p class=\"s4\"><span class=\"s6\"><span class=\"bumpedFont15\">The aggressive lockdown restrictions imposed by the UK PM to cut the spread of a new coronavirus-strain weighed on the British Pound, which fell by 1.2 Percent against the US dollar.<\/span><\/span><\/p>\n<p class=\"s4\"><span class=\"s6\"><span class=\"bumpedFont15\">The mutated variant might be behind th<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">e recent surge in the number of cases in the UK &#8211; 35,928 new patients recorded on December 20. The new strain is out of control, according to Health Secretary Matt Hancock, who also warned that it would be challenging t<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">o keep it under control until the vacc<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">ine rollout.<\/span><\/span><\/p>\n<p class=\"s4\"><span class=\"s6\"><span class=\"bumpedFont15\">Reports quoting several ministers say that tier-four restrictions might have to be in place until Easter, and at least 20 million people <\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">should be vaccinated<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\"> before any easing could be considered.<\/span><\/span><\/p>\n<p class=\"s4\"><span class=\"s6\"><span class=\"bumpedFont15\">Already, 350,000 residents received the vaccin<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">e, and 500,000 would have received the first jab by this weekend.<\/span><\/span><\/p>\n<p class=\"s4\"><span class=\"s6\"><span class=\"bumpedFont15\">With the expected approval of <\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">Astrazeneca&#8217;s<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\"> vaccine, the overall pace of the inoculations might inc<\/span><\/span><a name=\"_GoBack\"><\/a><span class=\"s6\"><span class=\"bumpedFont15\">rease in the coming weeks.<\/span><\/span><\/p>\n<p class=\"s4\"><span class=\"s6\"><span class=\"bumpedFont15\">Moreover, UK borders closing by many of the European countries a<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">long with the domestic restrictions might keep the GBP under pressure in the coming weeks.<\/span><\/span><\/p>\n<h3 class=\"s11\"><span class=\"s10\">No-deal <\/span><span class=\"s10\">Brexit<\/span><span class=\"s10\"> Chances Increase<\/span><\/h3>\n<p class=\"s4\"><span class=\"s6\"><span class=\"bumpedFont15\">The discussions surrounding the <\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">Brexit<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\"> deal failed to provide any progress as the tentative deadline on Sunday approaches.<\/span><\/span><\/p>\n<p class=\"s4\"><span class=\"s6\"><span class=\"bumpedFont15\">The two ke<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">y issues, fisheries and level-playing field, continue to affect the negotiation progress.<\/span><\/span><\/p>\n<p class=\"s4\"><span class=\"s6\"><span class=\"bumpedFont15\">UK wants the EU to reduce the annual quota of fish caught in the British waters by 60 Percent while the later only offer to reduce it by 25 Percent. The large differe<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">nce in expectations between the two <\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">parties<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\"> means a deal is unlikely before the December 31 deadline.<\/span><\/span><\/p>\n<p class=\"s4\"><span class=\"s6\"><span class=\"bumpedFont15\">The EU Foreign Affairs Committee David McAllister stated that the European Parliament would not be in a position to grant consent to an agreement this yea<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">r.<\/span><\/span><\/p>\n<p class=\"s4\"><span class=\"s6\"><span class=\"bumpedFont15\">Thus, GBP might be under severe pressure as market <\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\">participants<\/span><\/span><span class=\"s6\"><span class=\"bumpedFont15\"> price in a scenario of Britain&#8217;s exit from the EU without a trade deal.<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Asia-Pacific session sees aggressive selling. Brexit-deal talks seem to flounder. Mutated coronavirus throws-up new challenges for the UK. Markets traded in a risk-off mode during the Asia-Pacific session today as the investors worried over the reports of a new strain of coronavirus and Brexit-discussions deadlock. The US fiscal stimulus agreement between the Democrats and Republicans [&hellip;]<\/p>\n","protected":false},"author":163946612,"featured_media":5595,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1386,2796,3374,3009],"class_list":{"0":"post-107354","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-usd","9":"tag-brexit","10":"tag-coronavirus-vaccine","11":"tag-gbpusd","12":"tag-us-fiscal-stimulus"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Double Whammy Hits GBP\/USD - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/105087-double-whammy-hits-gbp-usd\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Stelian Olar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105087-double-whammy-hits-gbp-usd\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105087-double-whammy-hits-gbp-usd\\\/\"},\"author\":{\"name\":\"Stelian Olar\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/c83637dd6dc82bcaadbc8b6c994d1186\"},\"headline\":\"Double Whammy Hits GBP\\\/USD\",\"datePublished\":\"2020-12-21T13:07:22+00:00\",\"dateModified\":\"2020-12-21T13:22:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105087-double-whammy-hits-gbp-usd\\\/\"},\"wordCount\":472,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105087-double-whammy-hits-gbp-usd\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100638-gbp-eur-pound-pares-losses.jpg\",\"keywords\":[\"Brexit\",\"coronavirus vaccine\",\"GBPUSD\",\"US fiscal stimulus\"],\"articleSection\":[\"GBP\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105087-double-whammy-hits-gbp-usd\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105087-double-whammy-hits-gbp-usd\\\/\",\"name\":\"Double Whammy Hits GBP\\\/USD - 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