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GBP Down on Brexit Uncertainty, FOMC Takes Center Stage

JFD

The pound slid against all the other G10 currencies yesterday, as the rejection of Cooper’s amendment and the stance of the EU to not renegotiate may have revived fears over a chaotic EU-UK divorce. As for today, the FOMC decides on interest rates for the first time this year, with the spotlight likely to fall on Powell’s conference and any comments with regards to the recent reports over the balance-sheet reduction. Apart from the Fed decision, investors are also likely to focus on the US-China trade talks.

GBP SLIDES AS FEARS OF NO-DEAL BREXIT RESURFACE

The pound traded lower against the other G10 currencies on Tuesday. It underperformed the most versus AUD, NOK and NZD in that order, while the currency against which GBP lost the least was CHF.

Yesterday, UK lawmakers rejected Yvette Cooper’s amendment, which includes a nine-month extension to the Article 50, and instead backed a proposal by...

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Source: https://www.jfdbrokers.com/en/research/gbp-down-on-brexit-uncertainty-fomc-takes-center-stage
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