Blog

Brexit Meltdown hits the pound

• Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
• June 8, 2018
• No Comments

Boris Johnson warned that there could be a Brexit meltdown, but it will be “all right in the end” and that U.S. President Trump would take a tougher stance were he leading the talks.

Johnson’s comments were secretly recorded at a dinner on Wednesday evening and released on Thursday hours after ministers found a compromise on a backstop Brexit plan for the Irish border.

Johnson said that Prime Minister Theresa May was beginning to take a harder line but that there would be a need for level-headedness as talks became more difficult in the months ahead.

Johnson said U.S. President Trump, who is locked in a battle over steel tariffs with European allies including Britain, would take a stronger approach if he were in charge of the negotiations.

We end the with little in terms of data. GBP has had a volatile week around Brexit announcements and the UK leaving the customs union.

May’s Brexit plan will begin its most severe test to date on June 12 when she asks her divided Conservative Party to overturn changes made to the European Union (Withdrawal) Bill by parliament’s upper chamber.

We end the with little in terms of data. GBP has had a volatile week around Brexit announcements and the UK leaving the customs union.

The focus today and into the weekend is clearly on the G7 summit. The meeting is likely to provide plenty of headlines as President Trump’s tariffs on metal imports from Europe, Canada and Mexico have enraged the French and Canadian leaders, with the US firing back.