GBP/USD Is At Fresh Multi-Month Lows And Is Poised To Extend Its Decline

SourceYahoo News
SectorFinancial Markets
CountryMiddle east

Oops!Something went wrong.Please try again later.Oops!Something went wrong.Please try again later.Valeria Bednarik – Chief Analyst at FXStreetJuly 20, 2021, 7:37 AM·2 min readIn this article: Oops!Something went wrong.Please try again later.Oops!Something went wrong.Please try again later.

GBP/USD Current price: 1.3658

Mounting tensions related to the Brexit Northern Ireland Protocol hurt the pound.

Freedom day has arrived in the UK despite the high number of fresh contagions.

GBP/USD is at fresh multi-month lows and is poised to extend its decline.

The GBP/USD pair fell to 1.3655, a level that was last seen in February 2021. The dollar benefited from its safe-haven condition, while the pound suffered from Brexit woes. News over the weekend suggested that the UK will demand EU more flexibility over the Northern Ireland Protocol.

UK Brexit Minister David Frost is said to be preparing an announcement on the matter this week. When asked about the protocol, Frost said that it will always have to be a treaty due to the special situation of...read more...