Pound-US Dollar Rate Played Like A Ping Pong Ball as Brexit Risks Proliferate

The Pound-to-Dollar exchange rate was played like a ping pong ball on Tuesday as traders responded in illiquid markets to the ebb and flow of Brexit headlines while time slipped away from negotiators, although increasingly, it could Conservative Party MPs who’re the greater risk to Sterling. Sterling was close to the bottom of the major currency pile again as reduced trading volumes, illiquidity, risk aversion and a rising U.S. Dollar formed the backdrop to the final days of the Brexit trade negotiations which are widely reported to be concerned almost entirely with differences over fisheries access. The … (full story)

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