Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

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

Published 09/21/2018, 09:18 AM
Updated 09/21/2018, 09:35 AM
© Reuters.  Cable hits intraday low as May blames EU for Brexit impasse

© Reuters. Cable hits intraday low as May blames EU for Brexit impasse

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.

Latest comments

Dude put proper stop loss for your trades, dont blame root cause of price movements
this say caused me a huge loss , thinking to open case against this lady ,,,,,,,,
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
and huge profits to some too
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.