GBP / USD is trading around the lowest in seven weeks. Brexit, speculation on BoE levels and mismanagement of coronaviruses weigh, as noted by FXStreet analyst Yohay Elam.
EU chief negotiator Michel Barnier and his British counterpart David Frost acknowledged the difficulties encountered during the talks. Brussels wants the UK to agree to accept EU rules in exchange for easy access to the single market, while London rejects the idea. ”
Prime Minister Boris Johnson’s government has repeatedly rejected extending the implementation period beyond the end of the year. Investors are concerned that the UK is not following WTO rules – unfavorable conditions. “
Andy Haldane, chief economist at the BoE, left the door open to negative interest rates and other steps in an interview over the weekend. The BoE may first choose to expand its quantitative easing program, committing to buy an additional £ 100 billion in bonds, according to a Bloomberg poll. “
“The pound also suffers from the UK’s current foreclosure – and exit issues. The contact search application tested on the Isle of Wight encountered problems, while concerns about workplace safety were also reported in the British press. “