Breaking: GBP/USD drops sharply as DUP rejects key parts of Brexit deal
|The Northern Irish Democratic Unionist Party has expressed its discontent with several points in the Brexit deal that the UK and the EU are finalizing. The small party's support is critical for passing a Brexit deal and convincing hardline Brexit supporters in the Conservative Party to back a deal.
The DUP has issued a statement from its Arlene Foster and Nigel Dodds saying that
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.
Nevertheless, the party has committed to continue working with the government. Talks continue.
Leaders of the European Union are convening today for a critical summit in which they hope to sign off an accord. UK Prime Minister Boris Johnson has been busy negotiating with his European counterparts as well as trying to muster support for an agreement at home. The House of Commons is set to convene on Saturday for an extraordinary session.
GBP/USD has dropped from above 1.28 to around 1.2750 and high volatility continues. Cable hit a five-month high of 1.2877 on Wednesday and
More Brexit: Five outcomes and GBP/USD reactions as a deal may become real
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