XE Market Analysis: North America – Oct 01, 2020

The dollar and yen weakened against most currencies, with sterling being the main exception as the UK currency took a sharp rotation lower on Brexit related developments. Cable dove by nearly over 0.6% to a 1.2821 low, while EUR-GBP rallied by nearly 1%. Weighing were reports that the EU and UK are struggling on key issues in trade talks, along with with the European Commission president von de Leyen announcing that the EU has taken the first step in a legal infringement procedure against the UK in relation to the controversial Internal Market Bill.