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15 Mar 2021

EU launches legal action against UK changes to Northern Irish trading arrangements – Reuters

The European Union (EU) sent a letter of formal notice to the UK to launch legal action against unilateral British changes to Northern Irish trade arrangements, Reuters reported on Monday, citing an EU official. 

"Maros Sefcovic, the top EU official in charge of UK relations, has also sent a separate letter to his British counterpart, David Frost, calling for Britain to refrain from this measure, but also seeking talks on the issue," Reuters further added.

Earlier in the day, British Prime Minister Boris Johnson's spokesman said that they have not yet received a notification letter from the US and noted that they will respond in due course.

Market reaction

This headline doesn't seem to be having a significant impact on the British pound's performance against its rivals. As of writing, the GBP/USD pair was down 0.08% on the day at 1.3912.

Mar 15, 2021

EUR/USD: At risk of falling below the 1.1885 mark

EUR/USD trades around 1.1920 and is at risk of falling further as the pair gains bearish traction since the US Treasury yields pressure one-year highs
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Mar 15, 2021

USD/JPY stays in the positive territory above 109.00, eyes on US T-bond yields

The USD/JPY closed in the positive territory for the fourth straight time last week but seems to be struggling to gather bullish momentum on Monday. A
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