GBP/USD Turns Bearish Over Uncertainty on Brexit Extension, General Elections
The Pound is trading weaker against the US dollar, declining as uncertainties around Brexit fail to fade and continue growing instead. At the time of writing, GBP/USD is trading around 1.283.
The EU is due to hold a meeting later today when it could decide on the length of the next Brexit extension it is considering granting to Britain. The Pound is likely to trade volatile as the political turmoil in Britain keeps things uncertain on whether there will be another round of general elections before the new Brexit deadline.
For now, UK PM Boris Johnson has called for elections in mid-December and has conceded his inability to take Britain out of the EU by October 31, his key poll promise. However, the main opposition Labour Party has rejected Johnson’s calls for election. Opposition leader Jeremy Corbyn stated that he would decide on elections based on EU’s final decision on the Brexit extension.
ABOUT THE AUTHOR
See More
Sidebar rates
Related Posts
SaveAdd 3440
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals