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Sterling Slides as Border Risks, COVID Threat Circle

FOREX

GBP was comfortably the poorest performer in G10 Monday, with the currency slipping against all others in G10 after a new strain of COVID-19 was announced to be spreading in south-east England and London. This, twinned with lack of progress in Brexit negotiations and a disrupted flow of goods between the UK and France led to broad-based losses.

Equities had a choppy session, with broad-based losses noted across European and US markets. Renewed fears over COVID, profit-taking ahead of the Christmas break and a less-than-impressive debut for Tesla in the S&P500 all contributed.

NOK also traded poorly, with subdued oil prices largely responsible, falling against all others with the exception of GBP. USD, JPY traded the strongest on Monday.

Focus Tuesday turns to the final read of UK & US GDP for Q3 and December consumer confidence numbers.

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

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