GBP/USD: Firm Boris against Brexit and reopening to write down the pound fate

Fraught Brexit talks and a minor reopening of the UK economy are weighing on the pound, FXStreet’s analyst Yohay Elam reports.

Key quotes

“Brexit talks resume via video, with growing acrimony between the EU and the UK. [...] Without an accord or prolongation, the UK reverts to WTO commerce terms in 2021, worrying investors.”

“PM Boris Johnson announced a loosening of the lockdown, but only just. He also laid out a general roadmap for further steps due in June and July. Johnson's words have disappointed some that expected a quicker return to normal and also caused confusion.” 

“Once the market mood shifts back from ‘risk-on’ to ‘risk-off’, GBP/USD may find itself in a vulnerable position.”