GBPUSD Plunges as Uncertainty Over EU Membership Leads to Lack of Confidence

[kreslik.news]

Last week, British pound traders failed to react to friendly economic news which signaled that their attention was focused elsewhere. And it was- on the summit in Brussels between the U.K. and the European Union. The purpose of the summit was to discuss the U.K.’s membership in the EU.

On Thursday and Friday, British Prime Minister David Cameron was negotiating with EU leaders in Brussels about the U.K.’s membership in the union. The talks continued well after the European market close on Friday.

After the U.S. market close, Cameron said he “negotiated a deal to give the U.K. special status in ... (read more)