the British pound continues to make inroads against the US dollar,
as the pair is poised to complete a fifth straight winning week.
There have been many artificial deadlines in the Brexit saga, but there is no ignoring the Dec. 31 deadline, as the UK will withdraw from the European Union on that date, done deal or not. The markets have priced in an agreement being reached in time, and in truth, there is nothing preventing the sides from inking a preliminary agreement and continuing the talks into 2021. Some sort of deal would prevent massive upheaval and uncertainty, which be bad news for the British stock markets and the pound. The markets received a cold reminder of this on Friday, with a report that the French Junior European Affairs minister stated that there was a risk of a no-deal Brexit. The pound immediately responded by dropping 20 pips, from 1.3470 to 1.3450.
as the pair is poised to complete a fifth straight winning week.
There have been many artificial deadlines in the Brexit saga, but there is no ignoring the Dec. 31 deadline, as the UK will withdraw from the European Union on that date, done deal or not. The markets have priced in an agreement being reached in time, and in truth, there is nothing preventing the sides from inking a preliminary agreement and continuing the talks into 2021. Some sort of deal would prevent massive upheaval and uncertainty, which be bad news for the British stock markets and the pound. The markets received a cold reminder of this on Friday, with a report that the French Junior European Affairs minister stated that there was a risk of a no-deal Brexit. The pound immediately responded by dropping 20 pips, from 1.3470 to 1.3450.
