GBP/USD has tumbled below 1.20 as traders flock to the dollar. Yohay Elam, an analyst at FXStreet, explains three reasons for the cable’s slide. Key quotes “Everything is on a fire sale. The dollar is the world’s reserve currency and that is where investors flock to.” “The UK government’s late move to discourage mass gathering is being punished by investors.” “For the UK, it is only the beginning of the end, with estimates of major disruptions running from three months to a full year – after the transition period from Brexit ends. The high level of uncertainty is also weighing.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Hong Kong: 2020 GDP forecast downgraded – Standard Chartered FX Street 2 years GBP/USD has tumbled below 1.20 as traders flock to the dollar. Yohay Elam, an analyst at FXStreet, explains three reasons for the cable’s slide. Key quotes “Everything is on a fire sale. The dollar is the world's reserve currency and that is where investors flock to.” “The UK government’s late move to discourage mass gathering is being punished by investors.” “For the UK, it is only the beginning of the end, with estimates of major disruptions running from three months to a full year – after the transition period from Brexit ends. The high level of uncertainty is also weighing.”… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
