GBP/USD upside stalls near 1.2280 amid banking crisis, BoE response, and Brexit uncertainty – by anilpanchal7 GBPUSD Brexit BOE RiskAversion Fed
disappointment, despite UK Prime Minister Rishi Sunak’s hard efforts to strike a deal over the Northern Ireland Protocol .
On the other hand, BBC News quotes Democratic Unionist Party Leader Sir Jeffrey Donaldson as saying that the agreement was not sufficient to deal with concerns that his party had raised about post-Brexit trade rules for Northern Ireland. “The DUP has confirmed that it will oppose the deal - known as the Windsor Framework - when MPs are given a vote on part of it on Wednesday,” adds BBC News.
Additionally, news that five major banks, including the BoE, joined the US Federal Reserve to ease the US Dollar liquidity crunch via currency swaps and added strength to the market’s risk-on mood.
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