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Pound Trades in a Rollercoaster Manner on Brexit Headlines; NFP in Focus

JFD

The pound had a rollercoaster ride on Thursday driven by Brexit-related headlines. Cable enjoyed its first positive day, after three red in a row. As for today, the spotlight will fall on the US employment data for November.
Brexit Headlines Keep GBP-traders Busy
The British currency traded in a roller-coaster manner yesterday, as traders kept their gaze locked on Brexit headlines. At around midday in Europe, the currency fell after the EU said that the reports on the extension of the UK deadline to next week are wrong, and that any offer must be ready up until Sunday. Nevertheless, the British currency was quick to recover after EU Commissioner Oettinger said the progress on the divorce bill is noticeable and that talks on free movement of people are very advanced.
The currency extended further its gains later in the day, taking the lead among the best performers of the session, on Reuters reports that Britain and Ireland are very close to reaching an accord, while Bloomberg reported that the EU and the UK agreed on a future role for the European Court of Justice in British cases after UK’s departure.


Read the full financial markets daily report on JFD Research.

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Source: https://www.jfdbrokers.com/en/research-education/jfd-research/daily-market-report/6-daily-market-report/13335-pound-trades-in-a-rollercoaster-manner-on-brexit-headlines-nfp-in-focus
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