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Konu Konu: The Vulnerable Sterling Yanıt YazYeni Konu Gönder
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Kayıt Tarihi: 13-Kasım-2019
Gönderilenler: 495
Gönderen: 11-Ocak-2021 Saat 14:42 | Kayıtlı IP Alıntı xysoom

The Vulnerable Sterling


  Recently, the sterling suffered a sharp loss in the
wake of the fact that the UK-EU trade talks are teetering
on the brink of collapse. It comes because the UK is
preparing to legislate to deal freely with Northern
Ireland's freight under the expectation that a trade deal
with the EU is beyond reach. Once it succeeds, products
from Northern Ireland will have unfettered access to the
UK's market without any customs declarations as the UK
has the power to decide which goods are subject to EU
tariffs, but the EU's subsidies involving Northern Irish
firms may not be active.To get more news about
WikiFX, you can visit
wikifx official website.
However, the above term is a breach of last year's Brexit
deal, in which it was agreed that Northern Ireland would
remain aligned to EU customs rules to avoid a hard border
on Ireland. This was an important concession of the UK at
that time, and the largest difference between the two
parties was thus resolved. But now, the EU is likely to
take legal actions over the UK's breakdown of the deal
since an angry backlash has been provoked by Johnson, the
British Prime Minister, who simply overrode the achieved
deal after anticipating a failed negotiation.


  Over the past few months, the sterling has been
gaining although there was no progress made in trade
negotiations. The stalemate over the talks surprisingly
sparked a rise in the sterling both because of the weak
greenback and the expectation of financial markets on
further negotiation. This time, however, the U.S. dollar
has reclaimed its strength and the talks shall most
probably break down.
  Currently, financial markets are worried about not
only the Brexit with no trade deal, but last year's
Brexit deal would all be overridden. That is, not just a
trade deal is beyond reach, but a clean break from Europe
is even possible, which will lead to a sustained sell-off
of the sterling. Although there is a chance for US stocks
to bounce back and again hamper the DXY, traders seem
extremely worried that the UK would eventually adopt such
hard Brexit. Thus at this stage, the sterling is not only
out of momentum in the rebound, but may even struggle in
panic selling. Unless a UK-EU agreement is achieved
dramatically, the sterling is almost certain to be thrust
into a vulnerable position.
Yukarı Dön Göster xysoom's Özellikler Diğer Mesajlarını Ara: xysoom
 

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