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GBP Slides on New Brexit Concerns, Risk Appetite Stays Supported

JFD

The pound was the main loser among the G10 currencies, coming under strong selling interest following reports that UK PM Johnson wants the UK to stop being subject to EU laws by the end of next year. Elsewhere, investors’ morale stayed supported as a result of the official confirmation that the US and China have reached a “phase one” deal. The risk-linked Aussie failed to capitalize though, as the RBA minutes showed that officials agreed that it is important to reassess the economic outlook at the February meeting.

UK PM Johnson Will not Extend the Transition Period

The pound tumbled against all the other G10 currencies on Monday and during the Asian morning Tuesday. It lost the most ground against NZD, EUR, CHF and SEK in that order, while it lost the least ground against JPY.

The British currency came under strong selling interest following reports that UK PM Johnson revised the Withdrawal Bill to include a legal text that would require the UK to stop...

Read the full financial markets daily report on JFD Research.

JFD Review

Source: https://www.jfdbank.com/en/research/gbp-slides-on-new-brexit-concerns-risk-appetite-stays-supported-20191217
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