Investors believe that there will be a Brexit deal, and so, the GBP/USD reaches its 6-week high
Traders give the GBP nickname, the Great British Peso, that suggests that it looks like an emerging market’s currency. The currency has fallen close to 20% since the 2016 referendum and its fate remains highly dependent on the outcome of Britain’s exit from the European Union. The GBP/USD would rally to 1.33 on a Brexit deal and plunge to 1.10 on a no-deal exit, according to a recent Bloomberg survey. Boris Johnson seems to be forced to secure a deal with Brussels.
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