Pound Climbs to One-Month High Against the Dollar

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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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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