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GBP Stabilizes After Recovering Most of Earlier Losses

M. Ali 16 March, 2021 2:21 am Forex Market, Market Update

The British Pound (GBP) recovered from its earlier losses on Monday, as the U.S. Dollar (USD) showed a mostly positive performance across the board.

In addition, the recent development of the European Union (EU) taking legal action against the United Kingdom (UK) has increased market uncertainty about the future of British-European relations after the Brexit.

The GBP closed nearly unchanged against the U.S. Dollar (USD), as the GBP/USD settled at 1.3922, after reaching a three-day low of 1.3854 earlier in the session.

The EU is objecting to what it is considering unilateral moves by the UK regarding Northern Ireland that Brussels believes violate the Brexit agreement.

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