Pound Climbs to One-Month High Against the Dollar - Forex News by FX Leaders

Pound Climbs to One-Month High Against the Dollar

Posted Friday, September 6, 2019 by
Arslan Butt • 1 min read

The Pound is trading at its highest level in over a month against the US dollar over the latest political developments surrounding Brexit. At the time of writing. GBP/USD is trading at around 1.232.

Although he lost the votes in Parliament, PM Boris Johnson continues to insist that he is prepared to take Britain out of the EU on October 31 without a deal. Johnson reiterated his stand that he has no interest in seeking a delay on Brexit. Meanwhile, opposition Labour party maintains that its priority to stop a no-deal Brexit scenario which could cause long-term harm to UK’s economy.

Labour leader Jeremy Corbyn maintains that Johnson appears to have no plan to negotiate a new Brexit deal with the EU. On Monday, UK’s lawmakers get another vote to consider snap elections before October 31. The EU, meanwhile, sees a hard Brexit as the most likely outcome.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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