World, As Seen from Trinity Street, Dublin, Ireland

British pound entered a correction after initial gains

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The British pound sterling lost value on Thursday. The euphoria of shortly after the elections in mid-December gives way to concerns about the risk of a no-deal brexit at the end of 2020.

Although trade is thin on Thursday, it can be seen that traders are worried about trade negotiations between the European Union and the United Kingdom. The British give themselves a year to come to a deal. The deadline can be extended, but Prime Minister Boris Johnson does not want that. Warnings that the timeframe would be too short, ignored the British.

The latest figures from the British purchasing managers’ index contributed to the fall in the pound. The data showed that industrial activity in December fell at the fastest pace since 2012. The slowdown in the global economy was a bother to demand, but also to the uncertainty of Brexit.

The British pound was worth $ 1,3206 on Thursday afternoon. Mid-December, shortly after the elections, there was a peak of $ 1.3516.

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World, As Seen from Trinity Street, Dublin, Ireland

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