Sterling gaps lower as Brexit trade negotiation missed yet another deadline. European Parliament wouldn’t have time to scrutinize and approve the texts even if a deal could be reached in the next few days. Both sides have to make preparations for a “no-deal period” at least, as the end of the transition looms.
Additionally, a new variant of the coronavirus virus has plunged south-east England into a tier-4 lockdown. Countries including France, Germany, Italy, Ireland and the Netherlands introduced bans on arrivals from the UK.
While GBP/CHF gapped down today and stayed pressured through the Asian session, it’s still comfortably trading around the mid-point of recently established range. No special technical development was made as traders are, understandably, refusing to commit to a direction.
