The rise in pound sterling trading was unfortunately not strong enough to support the strengthening of the currency to the price level of 1.3000 against the US dollar after recording an increase at the beginning of the European session.
The pound traded again showing a decline and traded hovering around the 1.2920 price level against the US dollar.
Earlier, there were rumors that Britain was planning to end Brexit trade talks if they did not reach an agreement on October 15, the deadline set by UK Prime Minister Boris Johnson.
British Cabinet Minister Michael Gove also stated that preparations for the Brexit no-deal were being intensified.
Uncertainty about the future relations of trade between the UK and the European Union (EU) continues to put pressure on the pound.
However, there was a positive side after Britain stated that there was a 66% chance that this agreement could be reached apart from media reports also suggesting that officials were more optimistic than the statements issued in general.
Meanwhile, also of concern to investors during the European session was the Governor of the Bank of England (BOE), Andrew Bailey who stated that the UK and EU need to reach an agreement in the Brexit negotiations.
Speaking of his views on the economy, he did not expect that the second wave of the Covid-19 outbreak would have the same devastating effects as when the country was hit by a pandemic for the first time in March.
