British Pound (GBP) in the spotlight for the BREXIT negotiations in the UK

corebusinessjg (28)in #blog • 6 years ago

The GBP / USD rose on Friday driven by the fall of the US dollar that extended losses after the *NFP report. The pair peaked on Friday at 1.3277, the highest level since June 26.

The pound ended the week, backed by a weak dollar and also amid rising expectations of a rate hike by the Bank of England. Last week, before bouncing higher, GBP / USD ground at 1.3049.

The political concerns of Brexit and the United Kingdom.

They limited the movement upwards. A series of meetings will be held over the weekend. "Prime Minister May and her cabinet must decide on a clear model for Brexit. It seems increasingly likely that they opt for a soft model of Brexit "Norway Minus" of full integration of goods, but not a single market for services. Filters are sought on Saturday and details on Sunday's political programs, followed by the launch of a "white paper" of more than 100 pages next week. The EU response will be critical, "wrote analysts at TDS. The result could weigh in GBP at the beginning of the week.