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The Pound is falling


10 June 2021

Despite the weak “greenback”, GBPUSD is retreating. The British Pound is falling against the USD on Thursday afternoon. The current quote for the instrument is 1.4086. Investors are still monitoring the possibility of social restriction removal due to the pandemic in the United Kingdom but don’t seem to believe in it much. 

Another round of negotiations between the United Kingdom and the European Union in the Northern Ireland issue ended with nothing. London, as usual, is holding its ground, the EU is running out of patience, and everything is going in circles again. The alliance has leverage over the UK, for example, to optimize commercial tariffs and make them equal to tariffs of third-party suppliers. It would be a serious jab at the British business but the EU is speaking of it theoretically because any trading processes and cooperation work both ways. 

In addition to that, the European Union may stop cooperation with the United Kingdom on several other aspects. These negotiations are very exhausting and the alliance may really take such unpopular measures just to drive from the dead-lock.

The nearest interesting statistics from the United Kingdom will be available on Friday. The country is scheduled to report on the GDP, the Industrial Production, the Manufacturing Production, and the Construction Output for April. Some of them may help the Pound stop falling. 

#source

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