Friday, 11 October 2019 16:17 WIB |
The British pound consolidated gains early Friday after its biggest one-day jump in two years in response to signs of a possible agreement on the Irish border problem that has plagued the Brexit negotiations.
By 4 AM ET (08:00 GMT), GBP/USD was at $1.2460, up 0.2% from late Thursday and on course for a 1% gain against the dollar over the week. GBP/EUR was up 0.1% at 1.1315, on course for a weekly gain of 0.7%.
Reports suggested that the U.K. had conceded that the province of Northern Ireland would remain in the EU customs area immediately after Brexit “ a move that would satisfy EU concerns about the integrity of its border.
However, it could lose the Conservative government the support of Northern Ireland™s Democratic Unionist Party, as well as some Conservatives who baulk at a step they say could lead to the breakup of the U.K.
As such, there is no guarantee that Johnson™s proposals could command a majority in the House of Commons “ the same problem that brought down his predecessor Theresa May.
Source : Investing.com