As the date of Brexit is getting closer the financial institutes were set to cooperate in case London will crash out of bloc in the upcoming March without a deal. The European Union and the United Kingdom’s bank started cooperation regarding the clearing houses in order to avoid disruption in the cross-border derivatives market.
The British Pound is trading higher at 1.2900 against the US dollar on Wednesday in European sessions. The GBP/USD pair bounced off the three-week low on Tuesday amid speculations about the Brexit delay, while the lack of additional dovish comments from the head of the Bank of England gave additional strength to buyers. Investors are now aiming at a monthly reading of general data on inflation in the UK to determine the short-term Cable moves.