GBP is the worst performing major currency at the beginning of a new week. No breakthrough on Brexit was made over the weekend and The Sun reported that Boris Johnson is ready to walk away from talks withins hours. As there are just three and a half weeks until year ends, the market is growing more sceptical about the possibility of a deal being made. GBPUSD and GBPJPY are trading over 1% lower on the day. Brexit pessimism is also spilling over into equity markets with indices from the Western Europe trading 0.7-1.1% lower at the beginning of the session.
GBPUSD is in freefall mode as odds for the Brexit deal continue to diminish. Source: xStation5
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