GBP/USD fades corrective pullback from 2021 bottom


GBP/USD stays depressed around 1.3200, coronavirus, Brexit jitters poke yearly low

GBP/USD hovers around 1.3200 following a failed attempt to bounce off the 2021 bottom, marked the previous day, during the initial Asian session on Thursday. The cable pair refreshed multi-day low after the UK announced fresh measures to tame the spread of the coronavirus. Also adding to the quote’s weakness were the Brexit headlines and firmer US Treasury yields.

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GBP/USD outlook: Pound extends weakness on signals of new COVID-19 restrictions

Cable lost traction and fell to new December’s low in December, coming under fresh pressure on reports that new Covid rules in the UK are imminent. Media reports suggest that PM Johnson could introduce new restrictions to curb the spread of new Omicron variant, with new measures to be implemented as early as tomorrow. This would further weaken the pound ahead of highly anticipated BoE policy meeting next week.

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