GBP/USD hits intraday lows near 1.2020 early Tuesday morning as traders welcome the return of western traders following an extended weekend due to US holidays. In addition to full market returns, Cable pair traders also portray fears emanating from Brexit deal talks and doubts about small industry optimism.
Late Monday, The Times of the UK published news that British ministers were ready to resign from Prime Minister Rishi Sunak’s Brexit deal if it endangered Northern Ireland’s position within the UK. “There is growing backlash against the deal among euroskeptic Conservative lawmakers,” the Times reported. read more…
GBP/USD remains set aside near 1.2040 in the early hours of Tuesday’s Asian session, continuing Monday’s omission.
By doing so, Cable pairs seesaw around the 100-hour moving average (HMA) in a cautious mood among traders ahead of the first reading of the UK Purchasing Managers’ Index (PMI) for February.. read more…