Forex – Pound Hit by Brexit Deal Doubts, Yen Moves Higher

0 – The pound was pressured lower on Monday as talks aimed at reaching a Brexit deal ended in a stalemate, while the safe haven yen strengthened as equity markets started the week lower amid ongoing concerns over rising U.S. yields and trade tensions.

GBP/USD was down 0.28% to 1.3119 by 04:49 AM ET (08:49 AM GMT), while EUR/GBP was up 0.2% to 0.8810.

The pound came under pressure after talks between Britain’s Brexit Secretary Dominic Raab and the European Union’s chief Brexit negotiator Michel Barnier ended in a stand-off ahead of Wednesday’s EU leaders summit.

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