LONDON MARKETS: Pound Slides After DUP Says It Won't Agree To Current Brexit Deal
17 Ottobre 2019 - 09:31AM
Dow Jones News
By Barbara Kollmeyer, MarketWatch
Wild gyrations seen this week for the British pound continued
Thursday, with the currency falling anew after a key group of
Northern Ireland politicians said they can't support U.K. Prime
Minister Boris Johnson's current Brexit plan.
The pound slid 0.6% to $1.2755, from $1.2828 seen late Wednesday
in North America. The pound has gained around 0.8% this week, but
with plenty of ups and downs, while the FTSE 100 index has fallen
1%. The index opened with mild losses at 7,162.83.
"We have been involved in ongoing discussions with the
government. As things stand, we could not support what is being
suggested on customs and consent issues and there is a lack of
clarity on VAT," said DUP leader Arlene Foster and MP Nigel Dodds
in a statement
(https://twitter.com/duponline/status/1184707245478678533/photo/1).
"We will continue to work with the government to try to get a
sensible deal that works for Northern Ireland and protects the
economic and constitutional integrity of the United Kingdom," the
politicians said.
The pound spiked briefly Wednesday
(http://www.marketwatch.com/story/british-pound-volatile-after-report-says-major-brexit-deal-obstacle-removed-2019-10-16)
on a report, later dismissed, that the DUP would accept the
so-called consent element of the revised Brexit agreement, seen as
the last big obstacle to a deal. The U.K. has said it is open to
some flexibility on the mechanism that would allow those
politicians to decide whether it remains in regulatory alignment
with the EU as set out in the latest Brexit deal proposals.
The development comes as a two-day European Union summit gets
under way. The U.K. and the EU had hoped to have a withdrawal deal
ready for that meeting.
(END) Dow Jones Newswires
October 17, 2019 03:16 ET (07:16 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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