The Brexit crisis has come back to form the most important event affecting the markets at the present time after the British government announced its presentation to Parliament a new bill that violates some of the agreed provisions in the January agreement between Britain and the European Union, most notably the borders between Britain and Northern Ireland, which it was criticized by Michael Martin, Prime Minister of Northern Ireland, commented on the matter of declining confidence in Boris Johnson, British Prime Minister. Johnson’s hinting of the possibility of an exit without an agreement exacerbated the crisis, which was strongly evident in the pound sterling, which fell by more than 3.5% against the US dollar and 3.85% against the euro from the beginning of September 2020, as shown in the following charts.

The continuation of the current confusion in the situation, the pound may target the level of 1.2650 the euro at 0.9504 in the short term.

As for the FTSE 100 index shown in the following chart, which shows about 10% from the July 2014 summit, performance in European stock market indices compared to the German DAX 30 index and the French CAC 40 index, which shows the UK’s suffering in the current period.