White paper to be presented next week
UK PM May is on the wires speaking on Brexit plan:
- real differences remain between EU and UK on Northern Ireland
- committed to avoidance of hard border between Northern Ireland and the rest of UK
- she warned EU leaders Parliament would not approve EU withdrawal deal without clarity on future partnership
- white paper will set out detailed proposals of sustainable and close relationship with EU
- white paper will mark an important step in process of leaving the EU
- UK will have independent trade policy that will allow for negotiation of trade deals around the world
- We want future customs relationship with the EU in place by and 2020 to ensure backstop not necessary
The GBPUSD is trading at 1.3130 down about 75 bps on the day. The high reached 1.3209. The low extended to 1.3095.
