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John Wang
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Forex
April 27 20:23

GBP goes up as the PM is deciding the fate of the containment

Brexit is still an issue.
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GBP is gaining in trade against the US dollar. Traders keep a close watch on the improving pandemic statistics, as well as Boris Johnson’s decision concerning the national lockdown.
The Prime Minister is satisfied with the containment measures. Nevertheless, he believes that the nation should remain patient and prepared for the threat of a second wave of the coronavirus. The news should come this week.
The current social distancing policy are scheduled to come to an end on May 7. The donors of the Conservatives are pressing the politicians cut the lockdown before that. The number of new cases of the coronavirus seems to have levelled off under 5000. The number of daily deaths in hospitals is going down as well.
The Chief Negotiator of the European Union Michael Barnier still considers UK’s position on Brexit far from constructive. The parties can still reach an agreement concerning the extension of the deal. Johnson, however, does not believe that this will happen. The position of GBP on forex trading might be dependant on the negotiations in the near future.