Search ForexCrunch

GBP/USD has collapsed below 1.32, down some 320 pips on the day. The new covid strain circulating in London is causing a massive sell-off amid European travel bans and potential supply-chain issues ahead of Christmas. 

UK Prime Minister has convened an emergency meeting of the Cobra cabinet to discuss the rapidly deteriorating situation. The French Transport Minister has said that he is planning to set up a European-wide mechanism to allow traffic flows with the UK to resume.

— more to come