Brexit deal approved by UK Parliament, GBP/USD stays positive above 1.3600

Anil Panchal FXStreet

With no major surprises, UK House of Lords approved the Brexit trade deal during early Thursday in Asia.

“Prime Minister Boris Johnson’s post-Brexit trade deal won approval from the UK Parliament barely 24 hours before the country’s final split from the European Union,” said Bloomberg.

The agreement earlier crossed the House of Commons with 521 votes in favor against 73 opposing it. It should be noted that the Scottish National Party (SNP) is against the bills while stating, per Bloomberg, “ It will harm Scotland’s fishing industry, and told Johnson it will bolster the case for independence.”

GBP/USD takes the bids near May 2018 high…

Following the news, GBP/USD refreshes multi-month top to 1.3630 while rising for the third consecutive day. Having witnessed initial market impact of Brexit passage, the coronavirus (COVID-19) woes become the key for the Cable traders as recent surge in the covid cases push the national leader Boris Johnson to warn over the third lockdown.

Read: GBP/USD prints fresh 2020 highs in the 1.3620s

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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