GBP/USD: ongoing concerns surrounding the Irish border weigh - Scotiabank

GBP is weak vs. the USD and underperforming within the G10 currencies in Wednesday’s NA session. 

Key Quotes:

"Brexit negotiations remain dominant as market participants consider the dwindling prospects of a deal ahead of next week’s summit. 

Challenges have emerged from both the DUP and members of PM May’s Cabinet, with ongoing concerns surrounding the Irish border and post-Brexit regulatory arrangements. 

Risk reversals have shifted dramatically, pricing in a greater premium for protection against GBP weakness across a range of time horizons."