BREAKING: GBP dives as EU readies legal action against UK

British pound is the worst performing major currency today. Declines accelerated after media reported that European Union will go to court with the United Kingdom. Situation relates to a bill recently passed by UK authorities that will allow the country to walk away from some parts of the Withdrawal Agreement reached last year. EC President, Ursula von der Leyen, is expected to issue a statement at 10:00 am BST on the matter. GBPUSD drops over 0.5% and trades at daily lows near 1.2840. Some risk-off flows could have been spotted on the equity markets as well.

GBPUSD is in a freefall today on the back of Brexit developments. Attention shifts to short-term support at 1.2830. Source: xStation5

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