German chancellor Angela Merkel comments on Brexit in Tokyo
- Can talk about Irish backstop in relation to text on future ties between UK and EU
- Want to do all we can to ensure there is not a no-deal Brexit
Once again, European lawmakers are reiterating the same thing. We're still yet to hear from the UK government on what their exact next steps are. At this point, it's more along the lines of going back to Brussels to request for changes to the backstop. And we all know how that would go.
Cable continues to sit just above 1.3050 now after slipping to a low of 1.3044 earlier. The longer this impasse drags on without any further clues of a deal or extension to Article 50, it is more than likely to keep the pound pressured even if the latter is eventually the more sensible option at the end of the day.
Back when times were simpler...
