GBP/USD Back Above 1.30 Level After Brexit Bill Gets Cleared by Parliament - Forex News by FX Leaders
GBP/USD Back Above 1.30 Level After Brexit Bill Gets Cleared by Parliament

GBP/USD Back Above 1.30 Level After Brexit Bill Gets Cleared by Parliament

Posted Monday, December 23, 2019 by
Arslan Butt • 1 min read

Early on Monday, the Pound is trading slightly bullish against the US dollar, cautiously optimistic after the Parliament voted on PM Johnson’s Brexit Bill late last week. At the time of writing, GBP/USD is back trading above the 1.30 level, at around 1.3

The latest version of the withdrawal agreement confirms Britain’s departure from the EU on January 31, 2020, leaving no more room for doubt or uncertainty about Brexit. However, it does also raise the possibility of a no-deal Brexit after Johnson maintains that the end of the transition period, December 31, 2020, will be treated as a hard deadline, leaving very little time for negotiating trade agreements with the EU and other nations.

There is some optimism in markets that Johnson could work out the bare details of a free trade agreement within this deadline while negotiations on further details could extend beyond 2020, ensuring that Britain leaves the Union with a trade deal in place. Johnson also remains confident that he will be able to finalize agreements with Britain’s trading partners before the end of this transition period.

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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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