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GBP/USD Will See More Volatile Market Trend

  • Leader
    Oct 17
    If Britain and the EU fail to make some progress in the two rounds of
    week-long trade negotiations,scheduled on May 11th and June 1st
    respectively, it will have some noticeable impact on the pounds
    fluctuation before mid-2020.To get more news about WikiFX, you can visit wikifx official website.

      After a month of jittering in March, April has been rather peaceful
    for the pound. GBP/USD once plunged to a 35-year low of 1.1413 in
    March, while GBP/EUR also fell to 1.0527, a record low in 11 years. But
    both pairs have experienced some rally afterwards.

      The EU-Britain negotiation regarding new trade measures introduced
    since January 1st has recently come to a deadlock. June 30th will be the
    deadline for extending the negotiation, yet the British Prime Minister
    Boris Johnson has repeatedly emphasized that an extension is unlikely to
    take place.

      Latest statistics from CFTC show that as of the week ending April
    21st, speculators at Chicagos International Monetary Market(IMM) are
    holding net shorts in pound for the first time in the past 12 months.
    During the last 6 weeks, speculators have been reducing holdings of GBP
    long positions.