GBP is under pressure as hope of deal with Labour fades

The Pound is the biggest underperformer in the G10 currency group, losing to the dollar almost 0.5% on a daily basis. There are rumours that talks between government and the Labour Party are near collapse. The Labour is expected to present EU elections manifesto tomorrow. It is said that the document may show some willingness to compromise but with no breakthrough in talks. GBPUSD is testing a vicinity of 1.3000.

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GBP is under pressure as hope of deal with Labour fades

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