BREAKING: GBP dives as EU readies legal action against UK

9:42 AM 1 October 2020

British pound is the worst performing major currency today. Declines accelerated after media reported that European Union will go to court with the United Kingdom. Situation relates to a bill recently passed by UK authorities that will allow the country to walk away from some parts of the Withdrawal Agreement reached last year. EC President, Ursula von der Leyen, is expected to issue a statement at 10:00 am BST on the matter. GBPUSD drops over 0.5% and trades at daily lows near 1.2840. Some risk-off flows could have been spotted on the equity markets as well.

GBPUSD is in a freefall today on the back of Brexit developments. Attention shifts to short-term support at 1.2830. Source: xStation5

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits