The outcome of six hours of talking yesterday in Brussels ended in the European Union allowing the U.K. to stay within the union until October 31. This decision was made in the hope that a messy no-deal will be avoided.
British Prime Minister Theresa May is now set to head back to London today to once again outline the conclusion of her meeting. This may be a hard task as she had stated in the past that a delay would not be accepted by a Parliament that is “already losing patience with her leadership,” according to Bloomberg.
The news portal continued to say that “while the extension avoids the risk of a disorderly no-deal Brexit on Friday, it sets up a political crisis later on this year and could trigger an immediate backlash that risks destabilizing the government.
With the release of this news and the fact that this might be the last extension for Britain, the pound was unchanged as investors had priced in a delay.
Analysis and opinions provided herein are intended solely for informational and educational purposes and don't represent a recommendation or an investment advice by TeleTrade. Indiscriminate reliance on illustrative or informational materials may lead to losses.
© 2000-2021. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at firstname.lastname@example.org.