Five reasons to put the pound in intensive care

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GBP / USD advanced against the backdrop of a weak dollar, against the backdrop of concern for PM Johnson. According to Yohay Elam, an analyst at FXStreet, various aspects of the leadership crisis could once again cause the pound to fall.

Key quotes

“The most recent reports suggest that Johnson is receiving oxygen but is not on a ventilator. Hopefully Tuesday’s information is more reliable than Monday’s. However, intensive care is quite worrying. “

“Any other leader would have less weight and should gain the confidence of other ministers and officials while the country and the world fight the coronavirus crisis.”

“Unlike many countries on the continent, the UK peak could still be ahead.”

“The Minister of Foreign Affairs, Dominic Raab, is now the head of the government. He is a strong supporter of a firm exit from the EU and could lead to a more difficult exit, with less favorable trading conditions for the United Kingdom. “

“Aside from Brexit, Raab is leaning toward more conservative tax views. It could dampen efforts to support workers and businesses and limit the recovery of the pound. “

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