Daily Alert – Tues 30 July: All eyes on the GBP as Johnson talks it down

Mark NugentDaily Alert, July 2019

Daily Alert – Tues 30 July: All eyes on the GBP as Johnson talks it down

Brexit fears are stoked by PM Johnson saying he will not meet EU leaders until they remove the backstop. The market reacts by sending the GBP towards levels not seen since the immediate aftermath of the referendum in 2016. Markets tend to price in expectations quickly, so the question is how low will the no-deal-Brexit-driven GBP go before bottoming out.

Last night I take a GBPUSD short.

Tonight I will be looking carefully at the GBP and, of course, equities.

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