GBP Falls Below 1.31 USD

The pound retreated against the dollar today, after rising to a six-week high in the previous session, rising 1.7% on Wednesday after the optimistic comments of the European Union's chief negotiator, Michel Barnier.

The pound fell against the dollar by 0.4% to $ 1.3092 after hitting $ 1.3177 on Wednesday, and the pound sterling stabilized against the euro, recording 90.315 pence, after rising to 90.115 pence on Wednesday.

Prime Minister Boris Johnson said last week that the trade talks had ended and he asked companies to prepare for the conclusion of the failure to reach an agreement, comments that caused the decline of the pound sterling.