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PM Has Backing From Her Party

• Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
• October 25, 2018
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Theresa May received a show of support from her Conservative Party at a meeting in parliament, shifting the focus away from talk of an imminent leadership challenge over her Brexit strategy.

May has angered both supporters of Brexit and pro-EU lawmakers since failing to clinch a deal at an EU summit last week by raising the possibility of extending a post-Brexit transition period to help ease the deadlocked negotiations.

Her arrival at the packed meeting was greeted with cheers and some of those who heard her speak said it had gone well. Other attendees complained the event had been heavily stage managed to distract from their dissatisfaction.

With just over five months to go until Britain’s scheduled departure from the EU on March 29, May’s Brexit negotiations have stalled over a disagreement on a fall-back plan for the border between Northern Ireland and Ireland.

The pound is holding ground against the euro this morning, trading at the same levels as yesterday as Brexit dominates headlines and exchange rate movement.