GBP/USD Falls to Four-Month Low Over Brexit Uncertainty

GBP/USD has fallen close to a four-month low and is currently trading below 1.28


[[GBP/USD]] has fallen close to a four-month low and is currently trading below 1.28. The pressure is mounting on PM Theresa May to hand in her resignation as her Brexit deal fails to gain acceptance.

The likelihood of Britain exiting the EU in chaos seems to be getting higher with each passing day. In May alone, the Sterling has lost over 1% of its value with cross-party talks on the deal heading nowhere. Most recent news reports suggest that PM May is planning to resign in early June after her Brexit deal clears the Parliament vote.

Market analysts are anticipating a higher chance of a no-deal Brexit. May’s Brexit deal has been voted out of Parliament thrice and is up for a fourth vote sometime during the first week of June.

The opposition Labour Party, along with Eurosceptics in the ruling party as well as Northern Irish allies, are planning to reject it once again. Brexit uncertainty, coupled with tariff tensions that have global markets on edge, are increasing the volatility in the GBP.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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