GBP/USD: Mildly offered below 1.2050 as Brexit optimism fades, UK/US data, Fed Chair Powell eyed – by anilpanchal7 GBPUSD Brexit RiskAppetite Fed NFP
That said, the Democratic Unionist Party has urged the Government to stop “overselling” its new post-Brexit deal on Northern Ireland and focus on providing clarity on its detail. The same shows the DUP’s dislike for the initial details of the EU-UK deal on the Northern Ireland Protocol and raises challenges for the smooth passage of the key Brexit developments in the UK Parliament.
Elsewhere, mixed headlines from China and a cautious mood ahead of this week’s Federal Reserve Chairman Jerome Powell’s half-yearly Testimony, as well as the US employment report for February, seem to weigh on the GBP/USD price amid a sluggish start. Furthermore, the mixed performance of the US Treasury bond yield and the US stock futures also challenge the momentum traders even as the prices print mild losses.
Moving on, headlines surrounding Brexit and the second-tier UK data may entertain GBP/USD traders but major attention will be given to how Fed’s Powell could push back the policy pivot concerns. Also important will be to watch Friday’s monthly UK data dump for January and the US
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