GBP : Brexit Roadblock

(Mon, 7 Dec 2020). EU/UK post-Brexit trade talks are not going well, according to the latest round of official and sources tweets with UK PM Boris Johnson set to pull out of negotiations sometime today unless the EU move on their demands. The talks are now described as being on a knife-edge with both sides said to be downbeat over the prospects of a deal.

GBP/USD has fallen by around 2 cents in early trade as traders begin to price-in a no-deal outcome. While the talks are ongoing, there is always a chance that a deal can be struck and that Sterling will rebound, but as we stand the market is starting to price-out a deal.

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