Breaking: GBP/USD breaks 1.26 the figure as risk-off tensions mount By FXstreetNews Breaking GBPUSD
based on the prices of a basket of S&P 500 Index options with 30 days to expiration, surged more than 16% to 31.78.
Domestically, the sterling has been pressured of late by a weak economic outlook and less hawkish Bank of England expectations that are concerned about risks of a possible recession. A political crisis as lawmakers triggered an investigation into whether Johnson had misled parliament over Downing Street parties during lockdown is also simmering away in the background.
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