British pound is the worst performing G10 currency today. Weakening was triggered by Johnson’s plan to significantly shorten Brexit transition period. UK labour market data released at 9:30 am GMT did not provide relief for the currency as it showed bigger-than-expected slowdown in wage growth (3.2% YoY vs expected 3.4% YoY) and rising number of claims. GBPUSD is trading over 0.7% lower and the pair has erased the post-elections surge.
GBPUSD erases post-election surge and trade back near the 1.32 handle. Source: xStation5
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