EURUSD: euro and pound under pressure
On Monday the 10th of December, the euro dropped to 1.1352 against the dollar. This movement was facilitated by both technical and fundamental factors. The euro dragged the pound down with it, which plummeted against the dollar by 250 pips. The pound’s collapse was brought about by UK Prime Minister Theresa May’s decision to delay the parliamentary vote on her Brexit deal, which was scheduled for the 11th of December. The Prime Minister’s opponents have labelled her decision as cowardly.
