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GBP Forecast 1Q-2020: Sterling Eyes New Brexit Deadline

GBP Forecast 1Q-2020: Sterling Eyes New Brexit Deadline

Justin McQueen, Strategist

The final quarter of the decade for the Pound has been its best, with the currency gaining 6.6% against the US Dollar. Q4 began with Boris Johnson reaching a Withdrawal Agreement with the EU before finishing the quarter with a larger than expected majority at the December 12th election, which saw the Conservative party have its best performance since Margaret Thatcher.

Brexit to Happen, but No-Deal Risks Linger

The final quarter of the decade for the Pound has been its best, with the currency gaining 6.6% against the US Dollar. Q4 began with Boris Johnson reaching a Withdrawal Agreement with the EU before finishing the quarter with a larger than expected majority at the December 12th election, which saw the Conservative party have its best performance since Margaret Thatcher.

Consequently, Brexit will happen by the end of January 2020. However, as we look to Q1 2020, with one resolution found, another challenge awaits when the UK enters the transition period, which is due to expire at the end of 2020.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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