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Brexit Worries Continue to Hammer Pound

The Great Britain pound sank against the US dollar and fell versus some other currencies, including the Swiss franc, today amid concerns that pro-Brexit candidate Boris Johnson is moving closer to becoming a new prime minister.

Sterling Rallies As Johnson Floors Rivals in 1st Round, Later Falls

The Sterling pound today rallied against the US dollar in the mid-London session as Boris Johnson floored his opponents in the first round of voting within the Conservative Party. The GBP/USD currency pair had fallen earlier today as markets reacted to yesterday’s defeat of a motion to eliminate the possibility of a hard Brexit.

British Pound Rallies on Johnson Campaign Launch, Later Retreats

The British pound today rallied to new weekly highs against the US dollar following Boris Johnson‘s launch of his campaign to become the next Conservative Party leader. The GBP/USD currency pair later fell as the US dollar recovered and investor sentiment shifted away from the pound amid the leadership uncertainty occasioned by Theresa May‘s impending departure.

US Dollar Gains vs. Riskier Currencies, Falls vs. Safer Ones During Week of Risk Aversion

Trade wars and the resulting risk aversion on markets were the main themes during the past trading week. The US dollar reacted in an expected manner, rising versus riskier currencies but underperforming against safer ones.

British Pound Drops As Brexit Uncertainty Deepens, Later Recovers

The British pound today fell to new 4-month lows against the US dollar as the uncertainty surrounding the Brexit issue deepened. The GBP/USD currency pair hit new lows as uncertainty reigned over who would succeed Theresa May as Prime Minister and whether they would support a no-deal Brexit.

Pound Faces Sell-Off After European Elections

The Great Britain pound faced a sell-off again after the European elections over the weekend. The outcome of the voting showed a surge of support for the Brexit party, increasing chances of a “no-deal Brexit”.

US Dollar Ends Week Second Weakest After Great Britain Pound

The US dollar was one of the weakest currencies during the past trading week due to escalation of the trade war between the United States and China. While the greenback usually thrives in the environment of risk aversion, that was not the case this time. The weakest currency was the Great Britain pound, though.

Pound Falls As Theresa May Set to Resign on June 7, Later Recovers

The British pound today fell from daily highs after the British Prime Minister Theresa May announced that she would step down on June 7 from her post as party leader. Her decision took investors by surprise given that she had stood her ground before in the face of fierce opposition from within her party and the opposition for a long time.

Pound Hits New 4-Month Lows As PM May Is Pressured to Resign

The British pound today hit new 4-month lows against the US dollar as U.K. leaders criticized Theresa May‘s new proposed Brexit deal, which she outlined yesterday. The GBP/USD currency pair hit new lows as news reports indicated that multiple factions within the Conservative Party were planning to force the Prime Minister to resign.

Sterling Rallies As PM May Offers Second Referendum, Later Falls

The British pound today rallied higher after news emerged that the British Prime Minister Theresa May would offer MPs a chance to vote for a second referendum. The GBP/USD currency pair rallied from news 3-month lows triggered earlier in the day after the opposition Labour Party confirmed that it would vote against PM May’s latest Brexit deal.

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