Pound Still Trading Strong Against the US Dollar in Hopes of a Brexit Deal - Forex News by Strategia Forex
GBP/USD

Pound Still Trading Strong Against the US Dollar in Hopes of a Brexit Deal

Posted Monday, September 16, 2019 by
Arslan Butt • 1 min read

The Pound continues to trade strong against the US dollar into the fresh trading week on renewed hopes to avert a no-deal Brexit. At the time of writing, GBP/USD is trading at around 1.245.

Boris Johnson is off to Luxembourg on Monday to meet with European Commission president Juncker. According to sources, Johnson is expected to insist that he will not accept any further delays in Brexit, and that if both sides cannot agree on a deal by October 18, he will want to take Britain out of the EU without a deal.

The Pound had climbed above the 1.24 level, gaining over 1% on Friday, over news reports that Northern Ireland’s largest political party was ready to accept some EU rules post-Brexit. However, no official confirmation regarding this development has come in so far.

Meanwhile in Britain, Johnson’s party members are exploring alternatives to the Irish backstop ahead of upcoming Brexit discussions. One way is to allow Northern Ireland to converge with Ireland on some issues related to the border and regulations, but prevent a full customs border between the two regions.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

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.
Related Articles
Comments

Leave a Reply

avatar
  Subscribe  
Notify of