Welcome Guest:
Sign Up
Derived real-time data in partnership with:
Thomson Reuters
Apr 11 - 01:24 PM
GBP: What Brexit Flexible Extension Means For GBP/USD N-Term? - MUFG
First appeared on eFXplus on Apr 11 - 10:00 AM

MUFG Research discusses GBP/USD outlook in light of the latest Brexit developments. 

"The pound has traded on a somewhat stronger footing into the start of the European trading session, supported by a largely expected 6-month flexible extension granted in the early hours of the morning. Brexit day has been pushed back until the 31st of October and while the market had largely come to expect an extension of between 3 and 12 months, there was still some initial relief that the risk of a “No Deal” Brexit on Friday had been eliminated," MUFG notes. 

Going forward, pushing out No Deal risk will support the pound around the 1.3000 level against the dollar but the lack of immediate clarity means that the pound is unlikely to break above the 1.3400 level," MUFG adds. 

Source:
BTMU Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
!