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Pounds Sterling Takes Hit as UK Discovers New COVID-19 Strain and Brexit Trade Talks Deadlock
Dec 21 2020 · 11:02 UTC by Benjamin Godfrey · 3 min read
Photo: Depositphotos
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The ongoing Brexit trade negotiations hit another deadlock further contributing to the decline seen in the British Pound Sterling.
The Pounds Sterling appears to be taking more of the hit in a new development that saw the UK announce the discovery of a new COVID-19 strain amid a deadlock on the ongoing Brexit trade talks. Per a report from CNBC, the United Kingdom said it had discovered a new strain of the novel COVID-19, also known as the coronavirus and that this new strain spreads more quickly than previous variants.
British pound falls as UK faces new Covid strain, deadlock on Brexit trade talks CNBC 12/21/2020 Eustance Huang
Over the weekend, the U.K. said it had identified a new strain of Covid-19 which spreads more quickly than previous variants.
Following that announcement, other nations said they would be temporarily restricting travel from the U.K. in efforts to prevent the new strain from entering their borders.
The sterling and euro have fluctuated around headlines related to Brexit trade deal talks. © Provided by CNBC Britain s Prime Minister Boris Johnson gestures as he hosts a virtual press conference inside 10 Downing Street in central London on December 19, 2020.