GBP/USD saw some intraday selling on Tuesday and fell to a three-day low. Brexit woes and less than rosy expectations from the Bank of England continued to act as a headwind for sterling. Rising US bond yields revived demand for dollars and contributed to intraday selling. The pair GBP/USD fell almost 60 pips from the […]
Tag: Brexit
Britain-Brexit: Northern Ireland trade bill passes first parliamentary test
Legislation allowing Britain to repeal some of the rules for trade with Northern Ireland in the post-Brexit era passed yesterday, Monday, the first in a series of several parliamentary tests. Prime Minister Boris Johnson is putting pressure on his plans, causing outrage in the European Union. In addition to harsh criticism, MEPs voted 295 to […]
Brexit: London pushes for tougher trade provisions with Northern Ireland
The government of Prime Minister Boris Johnson is expected to continue pushing today to repeal provisions for trade with Northern Ireland in the post-Brexit period, sparking a possible escalation of the confrontation with the European Union. The legislation, which will unilaterally replace parts of the post-Brexit relations agreement reached between Britain and the EU in […]
Britain: Negotiations begin on new free trade agreement with six Gulf countries
Britain will begin talks on a new free trade agreement with six Gulf countries, the Commerce Department has announced, as part of the latest round of talks aimed at boosting non-EU trade relations after Brexit. Trade Minister Anne-Marie Trevelyan will visit Riyadh to begin talks with the Gulf Cooperation Council (GCC), which includes Bahrain, Kuwait, […]
EUR/GBP clings to gains near 0.8600, attention turns to Lagarde testimony
EUR/GBP gains ground for the third session in a row and rises to a three-day high on Monday. Expectations of a less aggressive Bank of England and Brexit woes weigh on the British pound and support the pair’s move higher. The bulls seem reluctant and prefer to stay on the sidelines ahead of Lagarde’s testimony. […]
GBP/USD: Losses to extend a few cents below 1.20 in coming weeks – Scotiabank
The GBP/USD bounces back to 1.21 but strong headwinds remain. Scotiabank economists they expect the cable to drop below 1.20 in the coming weeks. A clear improvement in broader market sentiment is needed to reclaim the 1.20 area “In addition to the UK’s economic weakness, tensions between the EU and the UK over pressure from […]
Beginning of the British-EU trade war?
The British government presented yesterday the bill for violation of the Protocol of Northern Ireland, which is part of the Brexit agreement. Reactions inside and outside. Back in the not so distant 2019, the United Kingdom, and specifically the Johnson government, completed the coveted Brexit by signing an agreement with the European Union that would […]
Brussels is threatening London with legal action against Northern Ireland
The European Commission today threatened the British government with legal action following the presentation of a draft law in London that unilaterally calls into question the customs regime after the Brexit of Northern Ireland. “We note with great concern the decision taken today by the British government to table a bill that invalidates the basic […]
Ireland: Britain will raise new uncertainties about Brexit
Irish Foreign Minister Simon Cowney told his British counterpart Liz Tras today that her plans to bypass parts of the Northern Ireland Protocol would create a new set of uncertainties. “The publication of legislation that violates the United Kingdom’s commitments under international law is having a profound effect on relations between these islands and between […]
Britain: Johnson promotes Northern Ireland Protocol bypass plan
Britain is expected to present a plan today that would circumvent some of the rules contained in the Northern Ireland Trade Protocol, a move that is expected to increase tensions in London’s relations with the European Union and could even lead to in a trade war. The British Prime Minister tried to downplay the issue […]
