11.06.2020 Eur/Gbp Daily Analysis

11.06.2020 Eur/Gbp Daily Analysis

Eur/Gbp today is trading at 0.8961; it is trading higher with 0.0043 following the US Federal Reserve’s monetary policy statement and the grim economic perspectives for 2020. The pound has failed to post any relevant advance against the euro. Investors' concerns about the lack of advance in the Brexit negotiations combined with the high COVID-19 death toll in the UK and market speculation the BoE might be considering negative interest rates are weighing on the GBP. Brexit uncertainty is being a major deterrent to pound investors. The market is growing increasingly wary about the possibility of a no-deal exit from the EU, as the successive rounds of talks with the Union are failing to deliver any relevant progress and the UK Government refuses to extend the transition period, which expires at the end of 2020.