GBP/USD Surges Above 1.25
GBP/USD above 1.2500
European Commission President Juncker told the UK on Thursday (September 19), “We can reach an agreement on the Brexit.”
According to British Sky News, Juncker believes that the Brexit agreement can be confirmed by October 31.
Juncker said that the UK’s non-agreement to withdraw from Europe will have “disastrous consequences” and said that he is “making every effort to reach an agreement.” He also stated that if the requirements of the security agreement can be met through alternative arrangements, then we do not need a security agreement.
In an exclusive interview with British Sky TV Sophy Ridge, Juncker confirmed that British Prime Minister Johnson submitted a document to him, outlining the draft of the new Brexit agreement in the UK.
However, Juncker said the letters were delivered late Wednesday night, and he has not read them yet.
After the news came, the British pound against the US dollar surged about 70 points in short-term, the day rose more than 0.7%, refreshing the day high to 1.2552. Also, the euro against the British pound fell nearly 40 points to 1.8807.
This week’s jobless claims data has hit unprecedented numbers. The number jumped to 3.28 million. Initial expectations of 1-1.5 million, which was still a very high estimate, were blown out of the water.
The New Zealand Dollar is fighting it’s way back up as the country enters it’s first official day of nationwide lockdown. It posted a 0.67% gain for the trading day, up to 0.58390 cents against the US Dollar. Just a week ago the NZD had dropped to 0.56, and looked ready to hit the 55 cent mark, as news broke of Air New Zealand’s layoffs.
The Nikkei 225, or Japanese Stock Index had an 8% gain for the day, following on from its 7% gain from the previous day. Less than a week ago the Nikkei had just hit lows not seen since 2017, falling below 20,000 points. However in just 2 days it has made back its losses and is now rapidly on the rebound back to the 20,000 mark.
Black Bull Group Limited (trading name: BlackBull Markets) is a New Zealand registered and incorporated company (company number: 5463921). We are also registered with the Financial Services Provider Register (number: FSP403326).
Black Bull Group UK Limited is registered in United Kingdom, Company Number - 9556804. Payment clearing services provided by: BlackBull Group UK Limited (Company Number - 9556804) Address - 483 Green Lanes, London, Greater London, United Kingdom, N13 48S
Risk Warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money you cannot afford to lose. You should make yourself aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any questions or concerns as to how a loss would affect your lifestyle.
Copyright © 2020 Black Bull Group Limited. All Rights Reserved.