Boris Johnson has asserted that there is a strong possibility that they will fail to strike a trade deal as both sides are not quite there yet. The people of both the EU and UK should prepare for a no a deal as this seems increasingly likely.
A decision could allegedly be reached by Sunday evening. This should create a big uptick in volatility and has the potential to move the sterling currency pairs maybe 2-3% in either direction, whatever the outcome. If you have some exposure over the coming days, you may want to think about protecting those requirements ahead of the biggest decision since June 2016 for the UK and the pound. Away from the trade deal story, the US weekly jobless claims showed a poor number and emphasised the importance of US Politicians to sort out their differences over the US stimulus package as the economic activity is cracking and the Pandemic is tightening its grip. Buckle up we could be in for a rollercoaster…
8:53am, December 11th 2020
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