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GBP Extending Pullback Ahead of Another Weekend Deadline

FOREX

After a particularly positive first half of the week, GBP is softer early Friday, extending the pullback that began in late US hours after Boris Johnson warned there was still a distinct possibility of No Deal should the EU not move further on rules surrounding fisheries post-transition. Betting markets have pared the implied odds of a trade deal being struck by the end of the year to 66%, from around 80% mid-week. GBP/USD has mirrored the sentiment, briefly showing below the $1.35 handle pre-NY hours.

The greenback trades somewhat firmer, with the dollar gaining against most others in G10, recovering from the Fed-induced weakness seen throughout the Thursday trading day.

Focus turns to Canadian retail sales, US leading index data and a speech from Fed's Brainard.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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