Pound v US dollar: GBP unsteady as EU gives UK government 48 hours to save Brexit


The GBP/USD quid pro quo rate has slipped -0.1 per cent to $1.338 so far today, with to a greater distance losses prevented by the international backlash against President Donald Trump’s decisiveness to recognise Jerusalem as the capital of Israel.

The pressure on the UK government to resolve the tendency deadlocks has intensified after EU chief negotiator Michel Barnier gave the UK 48 hours to accept to the preliminary text of the deal.

The warning comes after EU member nations informed Mr Barnier that they will otherwise not have but to scrutinise the components of any agreement ahead of next Thursday’s European Convocation meeting.

Prime Minister Theresa May is now under even more persuade to negotiate the turbulent political waters surrounding the issue of the Irish bed. 

While most parties involved are firmly against the idea of a critical border between Northern Ireland and the Republic, the DUP has vowed to block any unanimity that would see Northern Ireland remaining within the same regulatory framework as associates of the customs union.

Moreover, any agreement that effectively allows Northern Ireland to function as though it is still a member of the single market will infuriate Leavers and Remainers way.

The former are claiming this amounts to a “soft Brexit”, while the latter intention argue that if Northern Ireland is allowed to remain in the single market and tariffs union than there is no reason for the rest of the UK not to.

Further losses against the US dollar been reduced by the international fallout to President Trump’s decision to move the US embassy in Tel Aviv to Jerusalem

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