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May Has Her Say

• Posted by currencies in Bremain, Brexit, Currency, Dollar, Economy, EUR, GBP, Prime Minister, Referendum, Retail Sales, Sterling, UK, Uncategorised
• March 21, 2019
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The President of the European Council, Donald Tusk, announced last night that the EU will only back a short extension of the 29 March Brexit deadline if Theresa May’s withdrawal deal passes in parliament next week, which many believe makes a no-deal exit from the bloc more likely.

Theresa May held a short speech at Downing Street this evening, after unsuccessfully trying to have a constructive meeting with Brexiter MPs she hoped to swing.

In her speech, the PM pointed the finger at MPs and blamed parliament for the delay in reaching a decision. It has not been well-received, to say the least: Several Labour MPs have since accused May of having stirred up hatred towards members of parliament with her remarks.

A few MPs and pundits have said they believe May has probably gambled away any chance of receiving renewed support for her deal by blaming MPs alone for the deadlock.

The Federal Reserve’s dovish confirmation fired up a rally in the euro, yen and Australian dollar overnight and into Thursday, with the greenback near two-week lows as investors began to price in a U.S. interest rate cut for later this year.

The Fed last night all but abandoned plans to raise rates this year, signalling weaker economic growth.