The GBP Update

Date: 8th of October 2019

The GBP entered into a losing pattern earlier this morning. This comes after a Hard Brexit could deliver a 100-billion pound financial burden the U.K.

A report by the Institute for Fiscal Studies think-tank reported that the budget deficit could surge to 4 % of total spending, in case London leaves the European Union without an agreement.

There aren’t any good expectations that Brussels will agree with the U.K.’s latest proposals.

Now, GBP trades at 1.2243, which is another loss of $0.00478 or 0.39% from the previous close of $1.22910.

The daily range is from $ 1.2228 to 1.2302, while the trading volume is 100.068K.

The British sterling was also negative impacted by a report from the British Retail Consortium marked a 1.3 decline in retail sales in September, a tumble from a 0.7% increase last year.

For the depiction of the live charts, please visit the GBPUSD Charts page