{"id":95733,"date":"2020-02-10T03:00:33","date_gmt":"2020-02-10T08:00:33","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=95733"},"modified":"2020-02-10T03:47:12","modified_gmt":"2020-02-10T08:47:12","slug":"102324-gbp-usd-pound-at-10-week-low-on-brexit-fears-dollar-strength","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102324-gbp-usd-pound-at-10-week-low-on-brexit-fears-dollar-strength\/","title":{"rendered":"GBP\/USD: Pound At 10 Week Low On Brexit Fears &#038; Dollar Strength"},"content":{"rendered":"<p><a href=\"https:\/\/currencylive.com\/news\/currency\/gbp\">Pound sterling<\/a> dived 2.3% versus <a href=\"https:\/\/currencylive.com\/news\/currency\/usd\">the US dollar<\/a> in the previous week, snapping a two-week wining streak whilst experiencing its worst loss since mid-December. The pair struck a low of US$1.2881, closing the week around that low as no trade deal <a href=\"https:\/\/currencylive.com\/news\/topic\/brexit\">Brexit<\/a> fears dragged on sterling and encouraging US data as well as safe haven flows boosted the US dollar.<\/p>\n<p>The <a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-usd-exchange-rate-today\/\">pound US dollar exchange rate<\/a> in edging lower as the new week kicks off, trading sub US$1.29 at a 10 week low.<\/p>\n<h2>GBP\/USD: Pound Sterling lost ground across as fears of a no trade deal Brexit increased<\/h2>\n<p>Despite upbeat PMI figures the pound plummeted as investors became increasingly convinced that the UK and the EU will not agree a trade deal before the end of the transition period.<\/p>\n<p>Boris Johnson made his position clear when he said that the UK would break with Brussels&#8217; rules, as he laid out his vision of the EUR-UK future relation. Michel Barnier, however, insisted that the two side must be on the same level in order for a trade deal to be agreed.<\/p>\n<p>If the transition period ends and no deal is agreed, the UK and the RU will abide by World Trade Organisation rules, a significant shortfall from their current position.<\/p>\n<p>This week, the Brexit trade deal and Boris Johnson reshuffling his cabinet could overshadow any data. The economic calendar is relatively quiet expected a slew of data on Tuesday, including UK GDP.<\/p>\n<h3><strong>US dollar<\/strong><\/h3>\n<p>The <a href=\"https:\/\/currencylive.com\/news\/currency\/usd\">dollar<\/a><span data-contrast=\"auto\">\u00a0climbed across the previous week owing to strong US data<\/span><span data-contrast=\"auto\">\u00a0and<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">continued flows into safe havens amid the ongoing coronavirus outbreak<\/span><span data-contrast=\"auto\">. On Friday the dollar extended gains following the release of the US non-farm payroll, the most closely watched<\/span><span data-contrast=\"auto\">\u00a0US macro data release across the month<\/span><span data-contrast=\"auto\">. The jobs report beat expectations and underscored the solid US jobs market.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The rally in the dollar could have further to run as the new week begins as investors once again look towards coronavirus statistics. As the number of confirmed cases and the death toll continues to rise, fears over the economic impact on China\u2019s economy and also the global economy is keeping safe havens, such as the dollar, in demand. <\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Today there is no high impacting\u00a0US data releases. Investors will look ahead to Federal Chair Jerome Powell\u2019s\u00a0semi-annual appearance before\u00a0Congress on 11<\/span><span data-contrast=\"auto\"><sup>th<\/sup><\/span><span data-contrast=\"auto\">\u00a0and 12<\/span><span data-contrast=\"auto\"><sup>th<\/sup><\/span><span data-contrast=\"auto\">\u00a0February.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<hr \/>\n<h6><em>Currencylive.com<\/em><em> is a news site only and not a currency trading platform.<\/em><\/h6>\n<h6><em>Currencylive.com is a site operated by TransferWise Inc. (&#8220;We&#8221;, &#8220;Us&#8221;), 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 TransferWise 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.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>Pound sterling dived 2.3% versus the US dollar in the previous week, snapping a two-week wining streak whilst experiencing its worst loss since mid-December. The pair struck a low of US$1.2881, closing the week around that low as no trade deal Brexit fears dragged on sterling and encouraging US data as well as safe haven [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5575,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1396,1386,2139,1438,1394,1409,1445,1388,1493,1391,1392,1397,1398],"class_list":["post-95733","post","type-post","status-publish","format-standard","has-post-thumbnail","category-gbp","category-usd","tag-boris-johnson","tag-brexit","tag-coronavirus","tag-federal-reserve","tag-gbp","tag-gdp","tag-jerome-powell","tag-jobs-data","tag-nfp","tag-pound","tag-sterling","tag-us-dollar","tag-usd"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/USD: Pound At 10 Week Low On Brexit Fears &amp; 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