The recent climb by the GBP/USD has come to a halt following the release of a report that the UK may have given up on achieving a post-Brexit trade deal with the EU.
A separate report has given a similarly gloomy outlook for the prospect of the nation making a trade deal with the US before the end of the year.
However, it has only been a modest setback for the GBP/USD, which suggests that the pair’s climb could actually resume and get even higher before too long.
The absence of any sharp selloff following the gloomy trade talk news is being seen as an indication that the pair’s underlying trend continues to be upwards.
The Daily Telegraph reported on the likelihood that the UK will be unable to reach a trade deal with the EU after Brexit, with the UK government assuming that its country and the EU will trade with WTO rules after the end of 2020.
The Financial Times has also issued a separate report suggesting that the UK also believes that a trade deal with the US is unlikely to happen before the US Presidential election in November.
However, Wednesday’s FTSE 100 index of the major stocks listed in London has barely changed, with the EUR/GBP being only slightly higher and the GBP/USD only being marginally lower.
The most recent moves in Sterling come in the middle of a largely positive sentiment within financial markets, which are expecting a worldwide economic recovery after more stimulus measures were made by the US and after an EU recovery fund agreement.
However, the rise in coronavirus cases has seen a muted response from the markets.
We want our site users to find good brokers to trade through and to be warned off bad brokers. We encourage you to use our complaints tool to let us know about your experiences.
We have categorised the common complaints to make it easier for you and we have provided some guidance on what you may want to try before submitting a complaint, if our suggestions do not provide you with a resolution then by submitting a complaint, our team will attempt to take up your case with the relevant Broker and if needed, submit a formal report to the regulators.
We use the information you give us to decide if we want to continue to promote a broker on our site.
Your complaint not only helps you, it helps others and it helps us determine if we continue to support the broker.
Have you had a bad experience with a Broker? Let Others Know! Help our community of traders know of issues you have experienced. Just submit your complaint!
Choose if you want us to help resolve it with the broker or if you just want to tell others of your bad experience
Your details are never made public so your complaint is anonymous to the world
If you tick the box asking for our help to resolve it, we will attempt to resolve this with the broker and at least make them aware of the complaint.