Sterling slipped back from 20-month highs against the euro and three-month highs against the dollar set on Friday, with weekend press reports centring on UK PM May’s attempts to gain some concessions from Europe on the Irish border impasse in her negotiated Brexit withdrawal agreement before she presents an amended plan to parliament again on Tuesday. So far, there has been no sign of movement from Ireland or the European Union on its insistence on a backstop agreement to prevent a physical border re-appearing in Ireland post-Brexit. The pound has strengthened sharply in recent weeks, however, on the growing assumption Brexit will be delayed or softened. An amendment tabled for Tuesday by a UK Labour party lawmaker and likely to be backed by the opposition parties and some ruling Conservatives will aim to force the government to delay the exit if it hasn’t secured a deal in one month’s time

Comments