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Forex - Sterling Hits Intraday Lows as May Says UK-EU at Impasse

Currencies Sep 21, 2018 09:35AM ET
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© Reuters. Cable hits intraday low as May blames EU for Brexit impasse
 
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Investing.com - The pound fell to an intraday low against the dollar on Friday after UK Prime Minister Theresa May said that the UK and European Union were at an impasse in Brexit negotiations.

At 9:34 AM (13:34 GMT), GBP/USD slumped 1.36% to 1.3081, having moved as low as 1.3075 after May’s remarks.

May explained that the talks have stalled because the EU rejected British proposals without offering an alternative.

She added that the UK government will continue to work on preparations for the possibility of a no-deal Brexit.

EU leaders rejected May’s Chequers proposal on Thursday, casting doubt on a compromise being found, despite the UK being only months from leaving the economic bloc.

Officials from both sides had commented that reaching an agreement by the official EU summit in October was unlikely and had confirmed that another will be held in mid-November.

EU countries and the UK Parliament must approve any agreement prior to the March 29 official exit date.

Forex - Sterling Hits Intraday Lows as May Says UK-EU at Impasse
 

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Comments (3)
M Mosafer
M Mosafer Sep 21, 2018 12:21PM ET
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Dude put proper stop loss for your trades, dont blame root cause of price movements
Ahmed Farag
Ahmed Farag Sep 21, 2018 10:06AM ET
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this say caused me a huge loss , thinking to open case against this lady ,,,,,,,,
Ahmed Farag
Ahmed Farag Sep 21, 2018 9:45AM ET
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what is behind her say ? does she wants to keep the sterling low ? She is a prime minister and not a public woman who makes public speech without meaning, I think she should be more careful with her statements , this say caused a huge loss to some
Khethokuhle Nkosi
Khethokuhle Nkosi Sep 21, 2018 9:45AM ET
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and huge profits to some too
 
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